Memphis Company anticipates total sales for April, May, and June of $990,000, $1,090,000, and $1,140,000 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 June.

Multiple Choice

• $740,800.

• $842,400.

• $998,400.

• $780,400.

• $1,070,400.