How do I describe $180,000? Is it alright of me to describe this as the following? $180,000 is the total cash collected for the Quarter representing July sales (sales revenue) - Collected in current month?

Or, do I describe $180,000 as $180,000 as $180,000 is the total cash collected at the end of the Quarter representing July sales (sales revenue) - Collected in current month?

Would it be correct of me to describe $520,000 as $520,000 is the total cash this company expects to collect during July? Or Would it be correct of me to describe $520,000 as $520,000 is the total cash this company expects to collect at the end of July?

How do I describe $779,500? Is it alright of me to describe this as the following? $779,500 is the total cash to be collected at the end of June 30, 2017 or July 31, 2017?

SRS Educational Supply Company provides educational materials and supplies to educational institutions. The SRS business model is to be a one-stop provider of educational supply needs. For example, some of their product lines include educational workbooks, classroom visual aids, instructor support materials, art supplies, lab supplies, and administrative office supplies. While SRS serves all levels of educational institutions, the majority of their customers are K-12 schools. Sales can vary quite a bit from month-to-month as K-12 educational institutions have seasonal ordering patterns. Thus, budgeting is vital for planning and cash flow purposes. SRS has a June 30, fiscal year end. The company's balance sheet at June 30 is given below: Liabilities & Stockholders' Equity Accounts payable $ 130,000 Assets Cash Accounts receivable Inventory Prepaid insurance Building & equip. (net) Total assets S 40,000 340,000 50,000 18,000 860,000 S 1,308,000 420,000 758.000 Capital stock Retained earnings Total liabilities & stockholders' equity $ 1,308,000 The company's income statement for the year ending June 30 is given below: Sales Cost of goods sold $ 5,523,000 2.541.000 7 8 Schedule of Cash Collections July August September $340,000 Quarter $340,000 $180,000 $180,000 $420,000 9 June sales (A/R From Beginning Balance Sheet) 10 July sales - Collected in Current Month 11 July sales - Collected in Following Month 12 August sales - Collected in Current Month 13 August sales - Collected in Following Month 14 September sales - Collected in Current Month $420,000 $273,000 $273,000 $637,000 $637,000 $142,500 $142,500 $779,500 15 Total Expected Cash Collections 16 $520,000 $693,000 $779,500 17