Use the following information to respond to Question F J. Tark and Associates predicts sales in dollars of the following amounts in each quarter of the next year: Quarter 1 Quarter 2 Quarter 3 Quarter 4 $5,500,000 $4,200,000 $6,800,000 $3,300,000 In J. Tark's experience, 15 percent of sales are paid in cash. Of the sales on account, 70 percent are collected in the quarter of the sale, 20 percent are collected in the quarter following the sale, and 8 percent are collected in the second quarter after the sale. The remaining 2 percent are never collected. Total sales for the third quarter of the current year are $3,900,000 and for the fourth quarter of the current year are $5,650,000. Question 1 How much is the credit sales portion of the sales in the first quarter of next year? Question 2 How much total cash will be collected in the first quarter of next year