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5 pts Question 29 Farm Supply Company's budgeted monthly sales are as follows: April $780,000, May $560,000, and June $900,000. Sales are 60% cash and 40% on account. Farm Supply collects all its accounts receivable in the month following the sale. Cost of goods sold is budgeted at 75% of sales and ending inventory is budgeted at 20% of the next month's cost of goods sold. All inventory purchases are paid 28% in the month of purchase and 72% in the following month. What are Farm Supply's budgeted cash collections for the month of May? O $336,000 O $414,000 $648,000 $747.000 None of the above