Assume you are planning to make $500,000 in sales during January. History tells you that you generally collect 50% of your sales in the month the sale takes place, 35% in the month after the sale, and remaining 14% in the second month after the sale. The final 1% is generally not collectible. What would your budgeted cash collections be, by month, for your January sales?
100 words or more format as needed.