Orchard Has Forecast Sales to Be $250,000 in February,$270,000 in March,$300,000

Multiple Choice

Orchard has forecast sales to be $250,000 in February,$270,000 in March,$300,000 in April,and $280,000 in May.The average cost of goods sold is 70% of sales.All sales are made on credit and sales are collected 60% in the month of sale,and 40% the month following.What is the budgeted Accounts Receivable balance on May 31?

A) $196,000
B) $117,600
C) $112,000
D) $168,000