The following is the sales budget for the given months of Mark, SRL:

Cash Sales	Credit Sales
July	$40,000	$250,000
August	$56,000	$241,000
September	$55,000	$248,000
October	$49,000	$198,000
November	$58,000	$284,000

Additional information to be used determining the expected cash collections each month that will be used in preparing the cash budget:

Collections on Credit sales:

• 65% in month of sale
• 20% in month following sale
• 15% in second month following sale

The Accounts Receivable balance on July 1 was $59,000. Of this amount, $42,000 represented uncollected June sales and $17,000 represented uncollected May sales.Part 1:

What is the expect cash to be collected in July? $Answer

Part 2:

The budgeted Accounts Receivable on November 1 would be:Answer