Exercise 3. (15 points) A company is formulating its plans for the coming par, including the preparation of its cath budget Historically, the company's ses 25 cash The remaining sales se on credit with the following collection pattern: Collections on Account Perce ntage In the month of sale 30 % In the month following the sale 50 % In the second month following the sale % 18 Uncollectible % Sales for the first 5 months of the coming yere are forecast as follows: January $ $ 3,500,000 February 3,800,000 March 3,600,000 April 4,000,000 May 4,200,000 Required: Compute the total cash receipts from sales and collections on accounts for the month of April