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Acme Company's budgeted monthly sales are as follows: April $ 4 4 0 , 0 0 0 , May $ 5 2 0 , 0

Acme Company's budgeted monthly sales are as follows: April $440,000, May $520,000, June $380,000, and July $600,000. Sales are 70% cash and 30% on account. Acme collects 40% of its accounts receivable in the month of the sale and 60% in the month following the sale. Cost of goods sold is budgeted at 75% of sales and ending inventory is budgeted at 20% of the next month's cost of goods sold. All inventory purchases are paid 10% in the month of purchase and 90% in the following month. What are the budgeted cash collections for the month of June?
$359,600
$405,200
$623,600
$730,000
None of the above
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