Cash receipts budget Fox Trail Center's sales are all made on account. The firm's collection experience has been that 30% of a month's sales are collected in the month the sale is made, 50% are collected in the month following the sale, and 18% are collected in the second month following the sale. The page 551 sales forecast for the months of May through August is as follows: May.... June... July.... August... $240,000 280,000 300,000 350,000 Required: Calculate the cash collections that would be included in the cash budgets for July and August.