Eastern Corporation collects 10% in the second month following sale, 55% in the month following sale, and 35% of a month's sales in the month of sale. Budgeted sales for the upcoming four months are:

April budgeted sales	$100,000
May budgeted sales	$150,000
June budgeted sales	$230,000
July budgeted sales	$180,000

The amount of cash that will be collected in July is budgeted to be

	$204,500.
	$63,000.
	$173,000.
	$197,000.

Question