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 August are estimated at:

A) $360,000
B) $373,500
C) $462,000
D) $517,000