1. Kays Hardware Ltds budgeted monthly sales for January to June 2022 are given below (in $):57 500 for Jan, 81 000 for Feb, 69 500 for March, 62 500 for April, 75 000 for May and 65 000 for June.

   About 70% of the monthly sales are expected to be on credit. Approximately 60% of the credit sales are collected in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale; 5% are never collected and are written off.

   What would be the expected cash receipts from sales for May 2022 (in $)?

   		69 557.5
   		67 125
   		62 430
   		54 000