Question $9$

$4$ points

Grit Company was formed on May $1,2023.$ During May, $2023,$ the company reported sales on account of $$750,000.$ During June, $2023,$ Grit Company reporte sales on account of $$800,000.$ Anticipated collections patterns of accounts receivable indicate $40\%$ will be collected in the month of sale, $10\%$ in the next month, and the remainder in the following moith. How much will appear on the cash receipts and disbursements budget prepared for June, $2023?$

$$620,000$

$$465,000$

$$545,000$

$$540,000$