Meredith Company has budgeted sales for the upcoming months as follows April $365,000 377,000 May June July August September 397,000 417,000 405,000 385,000 Assume that 40 percent of the sales are credit sales, and the remainder are cash sales. Credit sales are collected 50 percent in the month of sale, 40 percent in the month following the sale, and 10 percent in the second month following the sale. Required: a. Compute Meredith Company's budgeted cash receipts for June. Note: Do not round intermediate calculations. Cash Receipts b. Compute Meredith Company's budgeted cash receipts for July. Note: Do not round intermediate calculations. Cash Receipts