Kelley Corporation had the following budgeted sales for the given months: Cash Sales Credit Sales July $45,000 $262,000 August $51,000 $260,000 September $53,000 $236,000 October $40,000 $237,000 November $32,000 $217,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: The Accounts Receivable balance on July 1 was $84,990. Of this amount, $63,990 represented uncollected June sales and $21,000 represented uncollected May sales. Collections on Credit sales: 55% in month of sale 30% in month following sale 15% in second month following sale Part 1: Given these data, the total cash collected during July would be: $Answer 1 Question 12 Part 2: What is the budgeted Accounts Receivable on November 1? Answer 2 Question 12