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Cretas makes all sales on account, subject to the following collection pattern: 22% in the month of sales, 23% in the first month after sales,
Cretas makes all sales on account, subject to the following collection pattern: 22% in the month of sales, 23% in the first month after sales, 44% in the second month after sales, and 10% in the third month after sales. (1% is not collected). If sales were 65000, 75000, and 85000 respectively for the month of July, August and September. Calculate the budgeted collection for August and budgeted receivables outstanding on 30 September?
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