On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget for March, April, and May. All of the companys sales are made on account.

The following information has been provided by Spicers management.

Month	Credit Sales
January	$300,000 (actual)
February	$400,000 (actual)
March	$662,000 (estimated)
April	$748,000 (estimated)
May	$800,000 (estimated)

The companys 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%

Spicers 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 Spicers budgeted cash balance at the ends of March, April, and May.