Cash Collections Budget

Miller, Inc. has projected the following sales amounts:

July $ 520,000 September $ 510,000

August $ 560,000 October $ 600,000

Millers sales are all on account and Miller collects its receivables in the following manner:

80% in the month of sale, 15% in the month following (after) the sale, and the final 5% in the second month following (after) the sale.

Calculate projected cash collections in September.