Use the following information to answer questions 1 3:Skyline Corporation began

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Use the following information to answer questions 1 3:Skyline Corporation began operations on January 1 2010. Skylinesbudgeted January 2010 February 2010 and March 2010 sales are$1000000 $1200000 and $2000000 respectively. The companyestimates that 75% of its sales will be made on credit. The companyalso estimates that 50% of Skylines customers will pay theiroutstanding balances in the month of the sale 30% in the firstmonth subsequent to the sale and 20% in the second monthsubsequent to the sale.1. How much cash should Skyline expect to receive from itscustomers in January 2010?a. $250000b. $375000c. $500000d. $625000e. $750000

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