The Patuxent Rail Company's sales for the next three months are as follows: February $165,000 March $170,000 April $155,000 Collection history for the company indicates that 60% of sales are collected in the month of the sale, 38% is collected in the following month, and 2% of sales are uncollectible. Budgeted cash receipts for April are: Answer $161,000. $157,600. $259,600. $154,500