Boston Harbor Corporation has the following budgeted sales: January $355,000, February $289,400, March $295,000, April $378,700, and May $312,400. 45% of the sales are for cash and 55% are on credit. For the credit sales, 70% are collected in the month of sale, 25% the next month, and 5% in the second month. Determine the cash collections for the cash budget for April and May. MAKE SURE TO SHOW YOUR WORK! (10 pt)

April May

Cash Sales from Current Month

Collections from Month Prior

Collections from 2 Months Prior

Total Estimated Cash Receipts

What is the A/R balance at the end of May? ______________________________ (5pt)