Camellia,a Merchandising Company,has Provided the Following Extracts from Their Budget

Camellia,a merchandising company,has provided the following extracts from their budget for the first quarter of the forthcoming year: $$\begin{array} { | l | c | c | c | } \hline & \text { Jan } & \text { Feb } & \text { March } \\\hline \text { Sales (20\% cash) } & \$ 500,000 & \$ 750,000 & \$ 1,000,000 \\\hline\end{array}$$ The company collects 70% of credit sales in the same month and the balance in the next month.Calculate the collections from the customers for the month of February.

A) $570,000
B) $540,000
C) $690,000
D) $750,000

Correct Answer:

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