QUESTION $10$

Onyx Hardware's forecasted sales for April, May, June, and July are $$160,000,$$$260,000,$$$150,000,$ and $$230,000,$ respectively. Sales are $70\%$ cash and $30\%$ credit with all accounts receivables collected in the month following the sale. Cost of goods sold is $75\%$ of sales and ending inventory is maintained at $$40,000$ plus $10\%$ of the following month's cost of goods sold. All inventory purchases are paid $22\%$ in the month of purchase and $78\%$ in the following month.

What are the cash collections budgeted for June at Onyx Hardware?

$$206,000$

$$183,000$

$$105,000$

$$143,000$