Sunshine Ltd. is preparing its cash budget for October, November and December 2022. About 40% of the monthly sales are expected to be cash and the rest are on credit (non-cash). Approximately 60% of the credit sales are collected in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale; 5% are never collected and are written off. The estimated sales for the second semester of the year is as follows.

Required (show your working):

Calculate budgeted cash receipts each month for October to December 2022

Sunshine Ltd. is preparing its cash budget for October, November and December 2022. About 40% of the monthly sales are expected to be cash and the rest are on credit (non-cash). Approximately 60% of the credit sales are collected in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale; 5% are never collected and are written off. The estimated sales for the second semester of the year is as follows. Month Sales in $ July $ 115,000 August $ 162,000 September $ 139,000 October $ 125,000 November $ 150,000 December $ 130,000 Required (show your working): Calculate budgeted cash receipts each month for October to December 2022