Center Company makes collections on sales according to the following schedule: 30% in the month of sale; 60% in the month following sale; 8% in the second month following the sale. The following sales are expected: January $200,000; February $100,000; and March $150,000. Cash collections in March are budgeted to be?

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The Model Company begins operations in April. It has budgeted

April sales of $30,000;

May sales of $34,000;

June sales of $50,000;

July sales of $60,000, and

August sales of $38,000.

Note that 10% of each month's sales is expected to represent cash sales; 75% of the credit sales are expected to be collected in the month following the sale, 17% the second month following the sales, 6% the third month following the sale, and the balance is expected to be uncollectible. What is the amount of cash to be collected in the month of July?