Question 3 Ceradyne Retailers expects credit sales in the next quarter as follows: April May June $89,300 93,100 104,000 Prior experience has shown that 63 percent of a month's sales are collected in the month of sale, 17 percent are collected in the month following sale, and the remaining 20 percent are collected in the second month following sale. February and March sales were $84,800 and $108,000, respectively. Estimate budgeted cash receipts for April, May, and June. Collection of credit sales April May June Collection of February sales $1 Collection of March sales Collection of April sales Collection of May sales Collection of June sales $