Blue has forecast sales to be $415,000 in February, $545,000 in March, $585,000 in April, and $625.000 in May. The average cost of goods sold is 60% of sales All sales are made on credit and sales are collected 50% in the month of sale, 30% the month following and the remaindor two months after the sale. What are budgeted cash receipts in May 7 Mutile Choice $597000 $625,000 $312.500 $487,416