The following is the sales budget for the given months of Aiko, nv:

Cash SalesCredit SalesJuly$34,000$211,000August$55,000$191,000September$32,000$227,000October$44,000$241,000November$41,000$280,000Additional information to be used determining the expected cash collections each month that will be used in preparing the cash budget:The Accounts Receivable balance on July 1 was $79,000. Of this amount, $64,000 represented uncollected June sales and $15,000 represented uncollected May sales.

Collections on Credit sales:

• 50% in month of sale
• 45% in month following sale
• 5% in second month following sale

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

$131,850

$106,050

$152,050

$193,050

$123,050