nassau products is preparing a cash budget for april the 362485

Nassau Products is preparing a cash budget for April. The following information on accounts receivable collections is available from past collection experience:

Percent of current month’s sales collected this month . . . . . . . . . . . . . . . . . . . . . . 25%

Percent of prior month’s sales collected this month . . . . . . . . . . . . . . . . . . . . . . . . 62

Percent of sales two months prior to current month collected this month . . . . . . . 7

Percent of sales three months prior to current month collected this month . . . . . . 4

The remaining 2 percent is not collected and is written off as bad debts. Credit sales to date are:

April—estimated . . . . . . . . . . . . . . $300,000

March . . . . . . . . . . . . . . . . . . . . . . . . 270,000

February . . . . . . . . . . . . . . . . . . . . . . 240,000

January . . . . . . . . . . . . . . . . . . . . . . . 285,000

Required

What are the estimated cash receipts from accounts receivable collections in April?