Practice Cash Collections and Cash payments 1) The Green Corporation collects 25% of a month's sales in the month of sale, 55% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are: Cash collections for the month of July are: 2) Expected purchases for June and July are $82,000 and $94,000, respectively. Purchases for May were $56,000. All purchases are paid 25% in the month of purchase and 75% the following month. At what amount are June payments for purchases budgeted