Rudd Company has budgeted sales revenue as follows for the next 4 months: February $300,000 March 240,000 April 210,000 May 330,000 Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible. Prepare a schedule which shows expected cash receipts from sales for the month of May.