Information pertaining to Brenton Corporation's sales revenue is presented in the following table. February March April Cash Sales $160,000 $150,000 $120,000 Credit Sales300,000 400,000 280,000 Total Sales$460,000 $550,000 $400,000 Management estimates that 5% of credit sales are not collectible. Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale. Cost of purchases of inventory each month are 70% of the next month's projected total sales. ll purchases of inventory are on account; 25% are paid in the month of purchase, and the remainder is paid in the month following the purchase. Brenton's budgeted total cash receipts in March are (Points : 5)

$478,000.

$457,000.

$492,000.

$428,000