Sioux Company is estimating the following sales for the first six months of next year:
January....... $250,000
February..... $220,000
March......... $240,000
April........... $300,000
May............ $360,000
Sales at Sioux are normally collected as 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?
a) $250,800
b) $264,000
c) $290,700
d) $306,000