Meredith Company has budgeted sales for the upcoming months as follows

April	$364,000
May	376,000
June	396,000
July	416,000
August	404,000
September	384,000

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.

	Cash Receipts

	Cash Receipts

	Cash Receipts