Jackson Company has developed the following sales projections for the calendar year, May June July August September October $110,000 130,000 150,000 170,000 160,000 140,000 Normal cash collection experience has been that 50% of sales is collected during the month of sale and 45% in the month following the sale. The remaining 5% of sales are never collected. Jackson's budgeted cash collections for the third calendar quarter are: (CMA adapted) Normal cash collection experience has been that 50% of sales is collected during the month remaining 5% of sales are never collected. Jackson's budgeted cash collections for the third Multiple Choice O $442,500 $481,000. $470,000 $385,000