Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following Information to assist in the budget preparation: a. The Marketing Department has estimated sales as follows for the remainder of the year (in units) July August September 37,500 October 85,000 November 27,500 14,000 54,000 December 14,500 The selling price of the beach umbrellas is $12 per unit b. All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale 5% uncollectible Sales for June totaled $408,000.