On March 1 of the current year, Spicer Corporation compiled information to prep a cash budget for March, April, and May. All of the company's sales are made on account. The following information has been provided by Spicer's management.

Month	Credit Sales
January	$	300,000	(actual)
February		400,000	(actual)
March		768,000	(estimated)
April		821,000	(estimated)
May		800,000	(estimated)

The company's collection activity on credit sales historically has been as follows.

Collections in the month of the sale	50	%
Collections one month after the sale	30
Collections two months after the sale	15
Uncollectible accounts	5

Spicer's total cash expenditures for March, April, and May have been estimated at $1,200,000 (an average of $400,000 per month). Its cash balance on March 1 of the current year is $500,000. No financing or investing activities are anticipated during the second quarter.

Compute Spicer's budgeted cash balance at the ends of March, April, and May. If the correct answer is ? 1. Cash balance on March 31 is 649000

2. cash balance on April 30 is 949900

3. cash balance on May 31 is 663900