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Blue incorporated has forecast sales to be $418,000 in February, $548,000 in March, $588,000 in...

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Accounting

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Blue incorporated has forecast sales to be $418,000 in February, $548,000 in March, $588,000 in April, and $628,000 in May. The average cost of goods sold is 60% of saies. All sales are made on credit and sales are collected 50% in the month of sale, 30% the month following. and the remainder two months after the sale. What are budgeted cash receipts in May? Multiple Choice 5600,000 5628,000 $34,000 $489866

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