Two questions. Please help me answer it and provide solutions

1.    Jackson Company’s credit historyindicates that 60 percent of revenue is collected in the quarter the salesoccur, 35 percent in the quarter following the month of sales, and 5 percent inthe quarter thereafter.  Assume Jackson’scash sales remain steady at $25,000 each quarter, credit sales are $600,000 inquarter 1, $520,000 in quarter 2, $480,000 in quarter 3, and $650,000 inquarter 4.  What will Jackson’s cashcollections from sales be for the quarter 3?

a.     A. $482,500

b.     B. $560,000

c.    C.$530,000

d.    D. $464,000

e.      None of the above.

2.       The Gretzky Company has budgeted the following sales for the 1stquarter of 2008:

January      $120,000

February    $150,000

March       $160,000

Only 20% of the company’s salesare made in cash.  The company expects tocollect 30% of sales on account in the month of the sale, 60% in the monthfollowing the sale, and the final 10% will be collected two months followingthe sale.  Bad debts are immaterial tothe budget.  Total budgeted cashcollections in March will be:

A.      A.$128,000

B.      B.$182,000

C.     C.$152,000