1 E8-17 (Algo) Calculating Cash Receipts [L08-4] McFarland Company makes 70 percent of its sales in cash. Credit sales are collected as follows: 70 percent in the month of sale and 30 percent in the month following the sale. 5.7 McFarland's budgeted sales for upcoming months follow: points $23,600 June 36,000 eBook 34,000 32,000 August Hint September Print Required: Compute McFarland's expected cash receipts for August. References Budgeted Cash Receipts