Northern sales are all credit sales. Past collection history indicates that credit sales are collected as follows: 10% in the month of sale 70% in the month following sale 20% in the second month following sale For the upcoming year, sales are budgeted to be as follows: July $90,000 August $100,000 September $80,000 You may want to consider using a chart, like we did in class: July Sales Collected August Sales Collected September Sales Collected Total Calculation Collected in Sept How much will cash collections be for September? $16,000 $96,000