Southshore Company Is Preparing Its Financial Budget for the First

Southshore Company is preparing its financial budget for the first quarter, and is focusing on budgeted cash collections. Accounts receivable at the end of the previous year were $30,000. Sales in the first quarter are forecasted as follows:
$$\begin{array} { | l | r | r | r | } \hline \text { Budpgtad Salas } & { \text { Jan } } & { \text { Feb } } & { \text { Mar } } \\\hline \text { Cash sales } & \$ 40,000 & \$ 50,000 & \$ 48,000 \\\hline \text { Credit sales } & 33,000 & 38,000 & 35,000 \\\hline \text { Total sales } & \$ 73,000 & \$ 88,000 & \$ 83,000 \\\hline\end{array}$$
The budget assumes that cash from the credit sales is collected the month after the credit sales take place.
Using the following format, please prepare the budgeted cash collections.
$$\begin{array} { | l | l | l | l | } \hline \text { Budgeted Cash Collections } & \text { Jan } & \text { Feb } & \text { Mar } \\\hline \text { Cash sales collected in month of sale } & & & \\\hline \text { Credit sales - collected from previaus } & & & \\ \text { month's sales } & & & \\\hline \text { Total callections } & & & \\\hline\end{array}$$