Meredith Company has budgeted sales for the upcoming months as follows: 40% of the sales are credit sales, the remainder are made in cash. Credit sales are collected 50% in the month of sale, 40% in the month following the sale, and 7% in the second month following the sale. a. Compute Meredith Company's cash recelpts for June. (Do not round intermediate calculations.) b. Compute Meredith Company's cash receipts for July. (Do not round intermediate calculations.)