E8-17 (Algo) Calculating Cash Receipts [LO 8-4) McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as follows: 65 percent in the month of sale and 35 percent in the month following the sale. McFarland's budgeted sales for upcoming months follow. June July August September $ 24,400 44,000 42,000 40,000 Required: Compute McFarland's expected cash receipts for August Budgeted Cash Receipts