IRWIN TECH sales in June were 400,000 units. Sales are expected to increase by 2% each month during the next 2 months (July and August) and an additional 8,000 units in September from August amount. Selling price is $16 per unit. Expected sales in October are 420,000 units. The firm inventory policy is to maintain an ending inventory equal to 25% of next month sales. Actual inventory is 103,000 units.

80% of sales are cash sales

20% of sales are collected in 1 month

A. Calculate expected Total Cash Receipts for July

B. Calculate expected Accounts Receivables for the projected Balance Sheet.

C. Calculate expected Total Cash Receipts for September.