oblem 3 - Meredith Company has budgeted sales for the upcoming months as follows April May June July August September $360,000 $372,000 $392,000 $412,000 $400,000 $380,000 Forty percent of the sales are credit sales, the remainder are made in cash. Credit sales are collected 50% in the month of sale, 40% in the month following the sale, and 8% in the second month following the sale. a. Compute Meredith Company's cash receipts for June. b. Compute Meredith Company's cash receipts for July c. Compute Meredith Company's cash receipts for August