The Following Credit Sales Are Budgeted by Milford Company

Multiple Choice

The following credit sales are budgeted by Milford Company: 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.