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 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 received in May = (40% × ₦26,000,000) + (50% × ₦22,000,000) + (10% × ₦18,000,000) = ₦10,400,000 + ₦11,000,000 + ₦1,800,000 = ₦23,200,000. Option A incorrectly applies percentages to wrong months. Option C takes only the current month's sales at 100%. Option D represents April's sales figure with no adjustment for collection timing.