The Following Credit Sales Are Budgeted by Milford Company $$\begin{array} { l r } \text { May } & \$ 357,000 \\\text { June } & 525,000 \\\text { July } & 735,000 \\\text { August } & 630,000\end{array}$$

Multiple Choice

The following credit sales are budgeted by Milford Company: $$\begin{array} { l r } \text { May } & \$ 357,000 \\\text { June } & 525,000 \\\text { July } & 735,000 \\\text { August } & 630,000\end{array}$$ 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) $648,060.
B) $588,000.
C) $630,000.
D) $617,400.