In the month of March the Baldwin Corporation received and delivered orders of 170,000 units at a price of $15.00 for revenue of $2.550mil for their product Best. Baldwin uses the accrual method of accounting and offers 30 day credit terms. By the end of May Baldwin had collected payments of $2.550mil for the March deliveries. How much of the collected $2.550mil should Baldwin show on the March 31st income statement and how much on the May 31st income statement?

Select: 1

$2.550mil in March; $0 in May

$0 in March; $2.550mil in May

$0.842mil in March; $1.708mil in May

$1.275mil in March;

$1.275mil in May