Aztec Company sells its product for $190 per unit. Its actual and budgeted sales follow.

	Units	Dollars
April (actual)	8,000	$1,520,000
May (actual)	3,200	608,000
June (budgeted)	6,500	1,235,000
July (budgeted)	6,000	1,140,000
August (budgeted)	4,100	779,000

All sales are on credit. Recent experience shows that 24% of credit sales is collected in the month of the sale, 46% in the month after the sale, 25% in the second month after the sale, and 5% proves to be uncollectible. The products purchase price is $110 per unit. All purchases are payable within 11 days. Thus, 60% of purchases made in a month is paid in that month and the other 40% is paid in the next month. The company has a policy to maintain an ending monthly inventory of 21% of the next months unit sales plus a safety stock of 165 units. The April 30 and May 31 actual inventory levels are consistent with this policy. Selling and administrative expenses for the year are $1,572,000 and are paid evenly throughout the year in cash. The companys minimum cash balance at month-end is $110,000. This minimum is maintained, if necessary, by borrowing cash from the bank. If the balance exceeds $110,000, the company repays as much of the loan as it can without going below the minimum. This type of loan carries an annual 11% interest rate. On May 31, the loan balance is $32,000, and the companys cash balance is $110,000.

n each of the months of June and July. April Credit sales from: April May June July August Total April Credit sales from: 1,520,000 April 608,000 May 1,235,000 June July 1,140,000 779,000 August Percent Collected in July June May Amount Collected in July May June August August