ABC Company's budgeted sales for June, July, and August are 13,400, 17,400, and 15,400 units respectively. The selling price for each unit is $16. 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 2% in the second month following the sale. Required: Prepare an analysis of cash receipts from sales for ABC Company for August. Budgeted sales units Unit selling price Budgeted sales revenue August collections: Current month's sales Prior month's sales Second prior month's sales Total collections June July August $