NSW Company collects payment on 50 percent of credit sales in the month of sale, 40 percent in the month following the sale, and 5 percent in the second month following the sale. Its sales budget follows:

Month Cash Sales Credit sales May June July August Compute NSW's total cash collections in July and its total cash collections in August. $24,000 30,000 50,000 70,000 $40,000 60,000 80,000 100,000 Total Cash Collections July August