correct answer is $140,000

1. Ivory Company has the following expected pattern of collections on credit sales: 70 percent collected in the month of sale, 15 percent in the month after the month of sale, and 14 percent in the second month after the month of sale. The remaining 1 percent is never collected. At the end of May, Ivory Company has the following accounts receivable balances: $21,000 48,000 From April sales From May sales What were total sales for April? a. $150,000 b. $72,414 c. $70,000 d. $140,000