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Selinur Limited is formulating its master budget for the September quarter and has ascertained the following data: Monthly sales data: May (actual) $40,000 June (actual)

Selinur Limited is formulating its master budget for the September quarter and has ascertained the following data:

Monthly sales data:

May (actual) $40,000

June (actual) $50,000

July (budgeted) $71,000

August (budgeted) $60,000

September (budgeted) $55,000

Expected pattern of collection:

55% in the month of sale (subject to a 2% credit card fee)

35% in the month after sale

9% in the second month after sale

1% written off as bad debts

Calculate, to the nearest dollar, the amount that will be collected from customers in September

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