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Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: $20\%$ are collected in the month of sale; $70\%$ are collected in the first month after sale; and $10\%$ are collected in the second month after sale. If sales for April, May, and June were $$60,000,$$$130,000,$ and $$120,000,$ respectively, what were the firm's budgeted collections for May?

Multiple Choice

None of the answers is correct.

$$68,000.$

$$20,000.$

$$115,000.$

$$117,000.$