In the month of March, the Baldwin Corporation received and delivered orders of 138,000 units at a price of $15.00 for revenue of $2.07 mil for their product Beetle. Balwin uses the accrual method of accounting and offers 30 day credit terms. By the end of May baldwin had collected payments of $2.07 mil for the March deliveries. How much of the collected $2.07 mil should Baldwin show on the March 31st income statement and how much on the May 31st income statement? Select 1

$0.683 mil in March; $1.387 mil in May

$2.07 mil in March; $ 0 on May

$1.035 in March; $1.035 in May

$0 in March; 2.07 mil in May