ABC Companys budgeted sales for June, July, and August are 15,000, 19,000, and 16,700 units respectively. The selling price for each unit is $12. Based on past experience, ABC expects that 40% of a months sales will be collected in the month of sale, 55% in the following month, and 3% in the second month following the sale.

Required:

Prepare an analysis of cash receipts from sales for ABC Company for August.

ABC Company's budgeted sales for June, July, and August are 15,000, 19,000, and 16,700 units respectively. The selling price for each unit is $12. Based on past experience, ABC expects that 40% of a month's sales will be collected in the month of sale, 55% in the following month, and 3% in the second month following the sale. Required: Prepare an analysis of cash receipts from sales for ABC Company for August