ABC Company's budgeted sales for June, July, and August are 15,400, 19,400, and 17,400 units respectively. The selling price for each unit is $16. Based on past experience, ABC expects that 30% of a month's sales will be collected in the month of sale, 60% in the following month, and 6% 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