4. Schedule of Cash Collections: Davies Corp. makes collections on all sales according to the following schedule: 10% in quarter of sale 90% in quarter following sale The following is a list of budgeted sales dollars for the next four quarters: 1st quarter 2nd quarter Budgeted Sales $2,910,400 $3,109,900 3rd quarter $3,001,860 4th quarter $3,288,120 Calculate the budgeted cash collections in 3rd quarter. 5. The Budgeted Balance Sheet: TopOfTheWorld, Ltd. is a manufacturer that makes one product. It provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $25. Budgeted unit sales for June, July, August, and September are 61,700; 62,900; 65,100; and 66,000 units, respectively. All sales are on credit. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. The ending finished goods inventory equals 25% of the following month's sales. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 12 ounces of raw materials. The raw materials cost $3.60 per ounce. Regarding raw materials purchases, 10% are paid for in the month of purchase and 90% in the following month. . Calculate the amount of the budgeted accounts receivable balance as of the end of August