Kingston budgets total sales for June and July of $430,000 and $378,000, respectively. Cash sales are 65% of total sales. Of the credit sales, 20% are collected in the month of sale, 65% are collected during the first month after the sale, and the remaining 15% 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. Hint: Determine the percent of June and July sales that are uncollected at July 31 . Santos Company is preparing a cash budget for February. The company has $18,000 cash at the beginning of February and budgets $68,000 in cash receipts from sales and $106,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) QS 20-24 (Algo) Manufacturing: Cash budget LO P2 Using the following information: a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $304,000. c. Cash payments for direct materials, $134,000. d. Cash payments for direct labor, $75,000. e. Cash payments for overhead, $40,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $180 ( 1% of beginning loan balance of $18,000) h. Cash repayment of loan, $18,000. Prepare a cash budget for March for Gado Company