3. Parkers Car Restoration expects the following sales for March, April, and May. The controller has determined that the company collects credit sales in the following pattern: collects cash at the time of sale from 30% of customers. Of the remaining sales, 50% are collected in the month following the sale, and 10% are uncollectible. The sales budget for the first seven months of the year is as follows: Cash Sales Credit Sales March $220,000 $1,760,000 April 200,000 1,000,000 May 300,000 1,200,000 How much cash will be collected from customers in May? March April May Cash Budget Cash Sales Credit Sales 30% in month of sale 50% in month after sale 10% in the second month after the sale Totals