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Cloudy Company had the following historical collection pattern for its credit sales: 7 5 % collected in the month of sale 1 2 % collected

Cloudy Company had the following historical collection pattern for its credit sales:
75% collected in the month of sale
12% collected in the first month after month of sale
8% collected in the second month after month of sale
3% collected in the third month after month of sale
2% uncollectible
The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below:
\table[[,],[July,$81,000
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