In the month of March the Chester Corporation received and delivered orders of 204,000 units at a price of 15.00 for revenue of 3.060mil for their product Creak. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $3.060mi for the March deliveries. How much of the collected $3.060mil should Chester show on the March 31st income statement and how much on the May 31st income statement?

Select: 1

a. $3.060mil in March; $0 in May b. $0 in March; $3.060mil in May c. $1.010mil in March; $2.050mil in May d. $1 530mil in March; $1530mil in May