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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

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

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

$3,500,000

February

3,800,000

March

3,600,000

April

4,000,000

May

4,200,000

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

Group of answer choices

$3,729,968

$3,781,600

$4,025,200

$4,408,000

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