Haddock, Inc. sells only on account. In the past, 20% of the amounts charged have been paid in the same month as the sale, 60% were paid in the following month,5% were written off as uncollectible, and the rest were paid in the second month following the sale. Sales for January through May are given below:
January ..................$100,000
February.....................80,000
March......................70,000
April......................120,000
May......................110,000
Prepare the cash receipts budget for March and April.