Panora Organization manufactures and sells industrials products. For 2017, Panora has budgeted the following sales: Quarter 1 $4,600,000 Quarter 2 5,100,000 Quarter 3 5,000,000 Quarter 4 7,600,000 In Panora's experience regarding sales on account, 75% are collected in the quarter of sale, and 22% are collected in the quarter following the sales. 3% are never collected. Total sales for the current third quarter is $4,900,000 and for the current fourth quarter is $6,850,000. Construct a cash receipts budget for Panora Organization for the upcoming year, showing the cash sales and cash collections from credit sales.