Miller Corporation has the following sales budget for the first four months of the current year: Month Sales January February $400,000 $320,000 $440,000 $360,000 March April Historically, the following trend has been established regarding cash collection of sales: 65% in month of sale 25% in month following sale 8% in second month following sale 2% uncollectible The company allows a 2% cash discount for payments made by customers during the month of the sale. November and December sales were $400,000 and $240,000, respectively. All sales are on account. Required: Prepare a schedule of budgeted cash collections from sales for January, February, and March