Cash receipts A firm has actual sales of

$70,000

in April and

$55,000

in May. It expects sales of

$74,000

in June and

$99,000

in July and in August. Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following 2 months, what are the firm's expected cash receipts for June, July, and August?