Globex Corporation Is Estimating Its Cash Collections for the First

Globex Corporation is estimating its cash collections for the first quarter of next year (January, February and March).The company has provided you with monthly sales along with historical cash collections data.Calculate the total cash received for January, February and March given the following data:
$$\begin{array}{ | c | c | c | c | c | c | } \hline & \text { Navember } & \text { December } & \text { January } & \text { February } & \text { March } \\\hline \text { Sales } & \$ 60,000 & \$ 80,000 & \$ 95,000 & \$ 105,000 & \$ 120,000 \\\hline\text { Estimated Collection: }\\\hline 75 \% & \text { In month of sale } & & & \\\hline 20 \% & \text { In month after sale } & & & \\\hline 5 \% & \text { In second month after sale } & & & \\\hline\end{array}$$