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Eastern Corporation collects 10% in the second month following sale, 55% in the month following sale, and 35% of a month's sales in the month of sale. Budgeted sales for the upcoming four months are:
April budgeted sales $100,000
May budgeted sales $150,000
June budgeted sales $230,000
July budgeted sales $180,000
The amount of cash that will be collected in July is budgeted to be
a. $204,500.
b. $63,000.
c. $173,000.
d. $197,000.
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