The Following Credit Sales Are Budgeted by Milford Company $$\begin{array} { l r } \text { May } & \$ 476,000 \\\text { June } & 700,000 \\\text { July } & 980,000 \\\text { August } & 840,000\end{array}$$

Multiple Choice

The following credit sales are budgeted by Milford Company: $$\begin{array} { l r } \text { May } & \$ 476,000 \\\text { June } & 700,000 \\\text { July } & 980,000 \\\text { August } & 840,000\end{array}$$ The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of August is

A) $864,080.
B) $784,000.
C) $840,000.
D) $823,200.