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Below is Timberland's sales budget for the third quarter. July August September Cash sales $ 90,000 $ 79,000 S87,000 Credit sales 90,000 94,800 95,700 $180,000
Below is Timberland's sales budget for the third quarter. July August September Cash sales $ 90,000 $ 79,000 S87,000 Credit sales 90,000 94,800 95,700 $180,000 $173, 800 $ 132,700 Total The company estimates that 5% of credit sales are uncollectible of the collectible credit sales, 60% are collected in the month of sale and the remaining 40% are collected in the following month of sale. The company offers a cash discount of 15% of the cash collected from credit sales. 75% is qualified for the discount Required: Calculate the budgeted total cash receipts for August and September (Round your intermediate calculations and final answers to the nearest whole dollar amount.) August Suptember Total cash recept
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