ABC Company's budgeted sales for June, July, and August are 16,000, 20,000 and 18,000 units respectively. The selling price for each unit is $18. 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 5% in the second month following the sale. Required: Prepare an analysis of cash receipts from sales for ABC Company for August June July 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 $