A company is formulating its plans for the coming year, including the preparation of its cash budget. Historically, the company's sales are 30% cash. The remaining sales are on credit with the following collection pattern:

Collections on Account	Percentage
In the month of sale	50%
In the month following the sale	48%
Uncollectible	2%

Sales for the first 5 months of the coming year are forecast as follows:

January	$ 3,510,000
February	3,810,000
March	3,610,000
April	4,010,000
May	4,210,000

For the month of April, the total cash receipts from sales and collections on account would be:

$4,611,500.

$4,148,760.

$4,940,800.

$3,819,460.