HELP! Memphis Company anticipates total sales for April, May, and June of $930,000, $1,030,000, and $1,080,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales during the month of May.

Memphis Company anticipates total sales for April, May, and June of $930,000, $1,030,000, and $1,080,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales during the month of May. Multiple Choice $697,600. $796,800. $940,800. $734,800. $1,012,800