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%E9-28A (similar to) Question Help Monachino Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Monachino Corporation has experienced the following collection pattern: November sales for last year were $105,000, while December sales were $110,000. Projected sales for the next three months are as follows: 20% received in the month of the sale 40% received in the month after the sale 24% received two months after the sale 16% of the credit sales are never received January sales. $ 170,000 February sales. $ 125.000 March sales $ 185,000 Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Monachino Corporation Cash Collections Budget For the Months of January through March January February $ 34,000 Cash sales Collections on credit sales: 20% Month of sale 27,200 40% Month after 35,200 24% Two months after 20.160 116.560 Total cash collections Enter any number in the edit fields and then click Check Answer. 2. parts remaining Clear All Check