QUESTION 13 Reese Corporation collects cash from customers as follows: 60% in the month of sale 20% in the month ate si 19% in the second month after sale, and 1% is never collected. Bad debts are written off annually in December Budgeted sales are all on credit and amount to: May $600,000 June 800,000 July 550,000 August 600,000 Reference: Reese Cash Budget What is the budgeted amount of cash to be collected in July? A. $558,000 B. $560,000 C $551,000 D. $604,000