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Answer (C) is correct . Granite’s sales and collections activity can be calculated as follows: ? Collections Sales January February March April January $220,000 $132,000 $55,000 $33,000 February 200,000 120,000 50,000 $? 30,000 March 280,000 168,000 70,000 April 260,000 156,000 $960,000 $132,000 $175,000 $251,000 $256,000 Total collections for the period were $814,000 ($132,000 + $175,000 + $251,000 + 256,000), leaving a balance in accounts receivable on May 1 of $146,000 (960,000 a€“ $814,000). This total is composed of $104,000 from April sales and $42,000 (15%) of March sales.

Answer (A) is incorrect because The amount of $107,120 is based on the wrong percentages.
Answer (B) is incorrect because The amount of $143,920 is based on the wrong percentages.
Answer (D) is incorrect because The amount of $204,000 is based on the wrong percentages.