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 In the month of sale Percentage 40% In the month following the sale 58% Uncollectible 2% Sales for the first 5 months of the coming year are forecast as follows: January $3,660,000 February 3,960,000 March 3,760,000 4,160,000 April May 4,360,000 For the month of April, the total cash receipts from sales and collections on accounts would be: (CIA adapted)