Q1) Patuxent Rail Company's sales for next three months are as follows:
| February |
$165,000 |
| March |
$170,000 |
| April |
$155,000 |
Collection history for company points out that 60% of sales are collected in month of the sale, 38% is collected in the following month, and 2% of sales are uncollectible.
Budgeted cash receipts for April?