Dayton Has Forecast Sales to Be $205,000 in February,$270,000 in March,$290,000

Multiple Choice

Dayton has forecast sales to be $205,000 in February,$270,000 in March,$290,000 in April,and $310,000 in May.The average cost of goods sold is 60% of sales.All sales are made on credit and sales are collected 50% in the month of sale,30% the month following and the remainder two months after the sale.What are budgeted cash receipts in May?

A) $267,000
B) $296,000
C) $161,250
D) $241,500