Spencer Company has budgeted sales for the upcoming months as follows:

February	$ 604,000
March	619,000
April	649,000
May	674,000

Assume that 70 percent of the sales are credit sales, and the remainder are cash sales. Credit sales are collected 40percent in the month of sale, 50percent in the month following the sale, and 10percent in the second month following the sale.

Required

1. Compute Spencer's budgeted cash receipts for April.

Note: Do not round intermediate calculations.

1. Compute Spencer's budgeted cash receipts for May.

Note: Do not round intermediate calculations.

1. Compute Spencer's expected accounts receivable balance at May 31.

Note: Do not round intermediate calculations.