Nocioni's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed.
During December 2007, Nocioni's invoiced $200,000 to clients. Projected revenues for the first six months of 2008 are given below:
Month Revenue
January $180,000
February 205,000
March 220,000
April 218,000
May 230,000
June 255,000
Reference: Ref 10-2
What are the expected cash receipts for May 2008?