Mon Inc. makes collections on credit sales according to the following schedule:

75% in month of sale

20% in month following sale

4% in second month following sale

1% uncollectible

The following sales have been budgeted:

Month Sales

April $90,000

May 120,000

June 110,000

The budget for cash collections in June will be:

$110,100.

$110,000.

$95,900.

$106,500.