Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $79,000 in June, $62,000 in July, and $95,000 in August? Cash collected $ Feedback Check My Work For the month of August, you are including both the cash and credit sales components in the month of sale". Don't forget to only include the credit sales amount for that component. From there, calculate the credit sales amounts for the prior two months and apply the applicable percentages. All of the amounts are applicable for determining the total cash receipts for August Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading