OnTime Publishers Inc. collects 30% of its sales on account in the month of the sale and

Question:

OnTime Publishers Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $400,000 for June and $360,000 for July, what are the budgeted cash receipts from sales on account for July?