Spencer Company has budgeted sales for the upcoming months as follows: February $ 607,000 March $ 621,000 April $ 652,000 May $ 672,000 70% of the sales are credit sales, the remainder are made in cash. Credit sales are collected 45% in the month of sale, 45% in the month following the sale, and 10% in the second month following the sale.

a. Compute Spencers cash receipts for April. (Do not round intermediate calculations.)

cash receipts-

b. Compute Spencers cash receipts for May. (Do not round intermediate calculations.)

cash receipts-

c. Compute the accounts receivable balance for May 31. (Do not round intermediate calculations.)

accounts receivable balance for may 31