Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales Budget Cash Sales Sales on Account April May June 100,000 71,000 125,000 440,000 488,000 475,000 540,000 559,000 600,000 In addition to cash sales collected each month, Bright Minds expects to collect 70% of the sales on account in the month of sale, 20% in the month following the sale, and the remainder in the second month following the sale. What is the amount of budgeted cash collections for June? Multiple Choice $600,000 $550,900 $527,300 $599,100