Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions
Minuteman Company's sales were budgeted for the first six months of its fiscal year as follows:
All sales are on credit and management estimates that 55% will be collected in the month following the sale, with the remaining 45% collected the second month following the sale.
-Cash collections during June are estimated at:

A) $376,000
B) $384,000
C) $491,500
D) $550,000