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All of Porter Corporation's sales are on account. Seventy-five percent of the credit sales are collected in the month of sale, 10% in the month

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All of Porter Corporation's sales are on account. Seventy-five percent of the credit sales are collected in the month of sale, 10% in the month following sale, and 10% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data for the company January February March April Total sales $422.000 $648,000 5555,000 $866,000 Cash receipts in April are expected to be $649,500 $705,000 $769,800 $120,300

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