4. Mann Company was organized on March 1 of the current year. Projected sales for each of the first three months of operation are as follows March $640,000 April $720,000 May $900,000 The company expects to sell 20% of its merchandise for cash. Of the sales on account 50% are expected to be collected in the month of sale, 30% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for March, April, and May (3 pts.)