McFarland Company makes 60 percent of its sales in cash. Credit sales are collected as follows: 60 percent in the month of sale anc 40 percent in the month following the sale. McFarland's budgeted sales for upcoming months follow: Required: Compute McFarland's expected cash receipts for August. McFarland Company makes 60 percent of its sales in cash. Credit sales are collected as follows: 60 percent in the month of sale anc 40 percent in the month following the sale. McFarland's budgeted sales for upcoming months follow: Required: Compute McFarland's expected cash receipts for August