Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows:Sales BudgetApril May June Cash sales30,000 43,000 55,000 Sales of account370,000 432,000 405,000 400,000 475,000 460,000 Bright Minds expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale. What is the amount of budgeted cash collections for June?
A. $406,900
B. $460,000
C. $424,900
D. $461,900
Answer: D
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