McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as follows: 65 percent in the month of sale and 35 percent in the month following the sale.

McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as follows: 65 percent in the month of sale and 35 percent in the month following the sale. McFarland's budgeted sales for upcoming monthls follow: Required: Compute McFarland's expected cash receipts for August. McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as follows: 65 percent in the month of sale and 35 percent in the month following the sale. McFarland's budgeted sales for upcoming monthls follow: Required: Compute McFarland's expected cash receipts for August