The sales budget of Eau de Libre Corporation, a company that manufactures cologne (“One whiff makes you want to go to the library”) for college students and sells the cologne mostly to students’ parents, shows the following estimated sales:

September 70,000 bottles October 40,000 bottles November 50,000 bottles December 60,000 bottles January 55,000 bottles Each bottle sells for $5.All of Eau de Libre’s sales are on account, and it expects to collect accounts receivable 15 days after making the sales. It gives no cash discounts. (Assume all months have 30 days.)

Required: Prepare a sales budget for the last three months of the year, including estimated cash receipts. lpo8