A company is preparing its cash budget for next year. The accounts receivable at the beginning of next year are expected to be 240,000. The budgeted sales are 3,000,000 and will occur evenly throughout the year. 75% of the budgeted sales will be cash and the remainder will be on credit. Credit customers pay in the month following sale.

The budgeted total cash receipts from customers next year are:

Select one:

A.

3,052,500

B.

2,990,000

C.

3,040,000

D.

2,490,000