3. The Doley Company has planned the following sales for the next three months: Jan Feb Budgeted Sales $40,000 $50,000 Mar $70,000 Sales are made 20% for cash and 80% on account. From experience, the company has learned that a month's sales on account are collected according to the following pattern: Month of sale First month following sale 60% 30% Second month following sale 8% Uncollectible 2% The company requires a minimum cash balance of $5,000 to start a month. The beginning cash balance in March is budgeted to be $6,000. Required: a. Compute the budgeted cash receipts for March b. The following additional information has been provided for March: