Memphis Company anticipates total sales for April, May, and June of $960,000, $1,060,000, and $1,110,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales during the month of May.

Multiple Choice

• $719,200.

• $819,600.

• $1,041,600.

• $969,600.

• $757,600.