Innovative Office Inc. has "cash and carry" customers and credit customers. Innovative Office estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 75% pay their accounts in the month of sale, while the remaining 25% pay their accounts in the month following the month of sale. Projected sales for the first three months of 20Y4 are as follows: January $1,200,000 February 1,450,000 March 1,600,000 The Accounts Receivable balance on December 31, 20Y3, was $180,000. Prepare schedule of cash collections from sales for January, February, and March. INNOVATIVE OFFICE INC. Schedule of Collections from Sales For the Three Months Ending March 31, 20Y4 January February March Receipts from cash sales: Cash sales $fill in the blank 1 360,000 $fill in the blank 2 435,000 $fill in the blank 3 480,000 December sales on account: Collected in January fill in the blank 4 January sales on account: Collected in January fill in the blank 5 Collected in February fill in the blank 6 February sales on account: Collected in February fill in the blank 7 Collected in March fill in the blank 8 March sales on account: Collected