4. Parlee Company's sales are 30% in cash and 70% on credit. Sixty percent of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following are budgeted sales data: Total Sales January $60,000 February $70,000 March $50,000 April $30,000 Required (5 marks): a. Determine the budgeted total cash receipts for April. (3 marks) b. Briefly describe 3 benefits gained from budgeting. (2 marks)