Shelby Shoes manufactures high-quality leather shoes for premier retail stores that sell for $100 per pair. Estimated sales for the first five months of the next year are: Jan 10,000 pairs; Feb 12,000 pairs; March 13,500 pairs; April 12,000 pairs; May 10,000 pairs. Sales are projected to be 90% credit sales and 10% cash sales. Credit sales are projected to be collected as follows: 60% in the month of sale; 35 % in the month after sale; and 5% in the second month after sale. How much cash is projected to be collected in March? $1,287,000 $1,319,000 $1,442,000 $1,487,000 SOLUTION
