The BRS Corporation makes collections on sales according to the following schedule:

$40\%$ in month of sale

$55\%$ in month following sale

$5\%$ in second month following sale

The following sales have been budgeted:

Sales

April $ $110,000$

May $ $120,000$

June $ $110,000$

Budgeted cash collections in June would be:

Multiple Choice

$$112,000$

$$110,550$

$$110,000$

$$115,500$