Arbor CoHas Forecast Sales to Be $400,000 in May,$475,000 in June,$575,000

Multiple Choice

Arbor Co.has forecast sales to be $400,000 in May,$475,000 in June,$575,000 in July and $700,000 in August.Forty percent of sales are made in cash,the remainder is on credit.Credit sales are collected 60% in the month of sale,the remaining the following month.What are budgeted cash collections for July?

A) $230,000
B) $334,000
C) $459,000
D) $551,000