Question 2 (15 points) the month of sale and 28% in the month following sale. Budgeted sales for May are $115,000, June are $120,000, for Foray Company finds that typically 40% of a month's sales are for cash. Payments on accounts receivable are 70% in July $160,000, August are $170,000 and for September are $140,000. Prepare a cash receipts budget for the third quarter (July, August and September).