Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are:
Cash collections in April are budgeted to be:
a. $321,000
b. $313,000
c. $320,000
d. $292,000