4) Search Engine Corp. has provided the following details conceming budgeted sales. Budgeted Sales Jan $75,000 Feb 69,000 March 80,000 April 82,000 May 80,500 June 92,000 The collection policy of the company is to collect 20% in the month of sale, 40% in the following month, and remaining 40% in the second month after the month of sale. All sales are made on account Calculate the cash receipts from customers for the first six months. Jan Feb March May June Budgeted sales Cash Receipts from customers: April Total collection from customers