Falcons Company Expects a Total of $10,000 in Sales in May

Multiple Choice

Falcons Company expects a total of $10,000 in sales in May Of these, $4,000 sales are expected to be for cash.Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale.The remaining 5% is expected to be uncollectible.____ is the estimated cash collection in May from May sales.

A) $4,000
B) $10,000
C) $7,000
D) $5,000