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DailyCompanyhasthe followingsales budget: July August September BudgetedSales $105,000 $211,000 $134,000 Creditsales represent 80 percent ofthe budgeted sales. Othe credit sales, 20 percentis collectedinthemonth ofthesale, 60percent

DailyCompanyhasthe followingsales budget:

July August September

BudgetedSales $105,000 $211,000 $134,000

Creditsales represent 80 percent ofthe budgeted sales. Othe credit sales, 20 percentis collectedinthemonth ofthesale, 60percent inthemonth afterthesale, and theremaining 15 percentiscollectedtwomonthsafterthe sale.Five percentofallsales areuncollectibleand written-off.

Do:

Calculatethecashreceipt budgetforSeptember.

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