On March i of the current year, Spicer Corporation complied Information to prepare 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 $300,000 actual) 400,000 (actual) 10000 Orlisted) 300,000 festimated) The company's collection activity on credit sales historically has been as follows. SON Collections are sent after the sale 5 Spicer's total cash expenditures for March, Apeil. 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 finanong or investing activities are anticipated during the second quarter. Compute Spicer's budgeted cash balance at the ends of March Aprilt, and May han on 31 Casc A 30 Cash balance on May 31