23 d ut of 10 May question June Asaro, nv had the following budgeted sales for the given months Cash Sales Credit Sales $58,000 $239,0001 $33,000 $273,000 July $51.000 $237,000 August $56,000 $262.000 September $45,000 $273,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled Collections on Credit sales: 70% in month of sale 25% in month following sale 5% in second month following sale The Accounts Receivable balance on May 1 was $78,010. Of this amount. $62,010 represented uncollected April sales and $16.000 represented uncollected March sales. Part 1: Given these data, the total cash collected during May would be: S Part 2: What is the budgeted Accounts Receivable on September 1