Kingston anticipates total sales for June and July of $390,000 and $448.000, respectively. Cash sales are normally 70% of total sales. of the credit sales, 20% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 20% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 Sales month Total Sales Credit Sales Percent Still Uncollected Amount Uncollected June S 390,000 448,000 July Total MM Co. predicts sales of $45.000 for May. MM Co. pays a sales manager a monthly salary of $4.100 plus a commission of 6% of sales dollars. MM's production manager recently found a way to reduce the amount of packaging MM uses. As a result, MM's product will receive better placement on store shelves and thus May sales are predicted to increase by 7%. In addition, MM's shipping costs are predicted to decrease from 4% of sales to 2% of sales. Compute (1) budgeted sales and (2) budgeted selling expenses for May assuming MM switches to this more sustainable packaging. (1) (2) Budgeted sales Budgeted selling expenses Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. .. Beginning cash balance, September 1. $49.000. b. Budgeted cash receipts from sales in September, $262.000. c. Raw materials are purchased on account. Purchase amounts are August (actual). $77.000. and September (budgeted) $102,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in the month following purchase. d. Budgeted cash payments for direct labor in September. $38.000. e. Budgeted depreciation expense for September. $3,700. 4. Other cash expenses budgeted for September, $51.000. g. Accrued income taxes payable in September. $10.500. h. Bank loan interest payable in September . $1.600. PTO MANUFACTURING COMPANY Cash Budget For Month Ended September 30 Beginning cash balance Cash receipts from sales Total cash available Cash payments for Direct materials Direct labor Other expenses Accrued taxes Interest on bank loan Total cash payments Ending cash balance