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18. BMW 18 Corporation is a Manufacturing firm. Information pertaining to the company's sales revenue is presented in the following table. June July August (Actual) (Budget) (Budget) Cash sales $ 80,000 $100,000 $ 60,000 Credit sales 240,000 360,000 180,000 Total sales $320,000 $460,000 $240,000 Management estimates that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale. H Q: BMW 18 Corporation's budgeted cash collections in July from credit sales are * [