Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Bright Minds expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale. What is the amount of budgeted cash collections for June?
Cash sales
April 30,000
May 43,000
June 55000
Sales on Account
April 370000
May 432,000
June 405,000