Gisi Ltd provides the following sales projections for the next four months: July $42,000 August $54,000 September $66,000 October $36,000 Actual sales in May were $21,000 and in June were $33,000. Past records reveal that approximately: 40% of sales are for cash and receive a 3% discount 75% of credit customers pay the month after sale, with the rest the following month (i.e. two months after sale) if they pay 5% of credit customers never pay . Inventory is sold at a mark-up of 200% (i.e. the cost price is one-third of the selling price) and Gisi requires closing inventory to be a half (1/2) of the following month's cost of goods sold. Inventory at 30 June 2010 was valued at $5,000. a) Calculate the estimated total receipts from customers for each of the months July, August and September