BMW 18 Corporation is a Manufacturing firm. Information pertaining to the company's sales revenue is presented in the following table July June August (Budget) (Actual) (Budget ) $100,000 $ 80,000 Cash sales $ 60,000 360,000 240,000 Credit sales 180,000 $460,000 $ 320,000 Total sales $ 240,000 Management estimates that 5% of credit sales are uncollectible . Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale Q: BMW 18 Corporation's budgeted cash * collections in July from credit sales are