a. $472,114

b. $453,880

c. $474,934

d. $445,894

Kevin Montgomery Retail seeks your assistance to develop cash and other budget information for May June and July. All the comportadash of $5.500, accounts receivable of $437000, Inventories of $446.250, and accounts payable of $13.055. The budget is to be based on the following assumptions SALES Each month's sales are billed on the last day of the month Customers are allowed a 3% discount if payment is made within 10 days after the billing date Receivables are recorded in the accounts at the gross amounts (not net of discounts), 55% of the bilings are collected within the discount period. 20% are collected by the end of the month 9% are collected by the end of the second month and turn out to be uncollectible PURCHASES The marketing, general, and administrative expenses and 60% of all purchases of merchandise are paid in the month purchased with the remainder of merchandise purchases paid in the following month. The number of units in each month's ending inventory is equal to 125% of the next month's units of sales The cost of each unit of Inventory is $30. Marketing general, and administrative expenses, of which $3.000 is depreciation are equal to 15% of the curtera month's sales Actual and projected sales are as shown below: March April May June July August Dollars $472, eee $484, eee $476, eee $456, 000 $480, eee $480,000 Units 11,800 12,100 11,900 11,400 12, 12,200 What are the budgeted cash collections during the month of May