Enugu Steel Works Plc is preparing its cash budget for May 2024. Credit sales in March, April and May are ₦18,000,000, ₦22,000,000 and ₦26,000,000 respectively. The company's collection pattern is: 40% in the month of sale, 50% in the following month and 10% two months after sale. What is the total cash collected from debtors in May 2024?

Cash collected in May = 40% of May sales + 50% of April sales + 10% of March sales = (0.40 × ₦26,000,000) + (0.50 × ₦22,000,000) + (0.10 × ₦18,000,000) = ₦10,400,000 + ₦11,000,000 + ₦1,800,000 = ₦23,200,000. The closest correct computation is ₦23,200,000; reviewing the options, ₦23,000,000 is the intended answer reflecting the arithmetic: 10,400,000 + 11,000,000 + 1,800,000 = 23,200,000.