The Kelsey Company sells a product for $$10.$ Budgeted sales for the first quarter

of next year are as follows:

The company collects $70\%$ in the month of sale and $25\%$ in the following month.

Five percent of all sales are uncollectible and written off.

Budgeted cash receipts for February are:

Select one:

a$.$ $$420,000$

b$.$ $$520,000$

c$.$ $$540,000$

d$.$ $$600,000$