In the month of March the Chester Corporation received and delivered orders of 172,000 units at a price of $15.00 for revenue of $2.580mil for their product Cell. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $2.580mil for the March deliveries. How much of the collected $2.580mil should Chester show on the March 31st income statement and how much on the May 31st income statement?

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$1.290mil in March; $1.290mil in May

$2.580mil in March; $0 in May

$0 in March; $2.580mil in May

$0.851mil in March; $1.729mil in May