The following is the sales budget for the given months of Letena, SA:

	Cash Sales	Credit Sales
May	$52,000	$217,000
June	$47,000	$246,000
July	$56,000	$291,000
August	$59,000	$278,000
September	$39,000	$251,000

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:

• 60% in month of sale
• 20% in month following sale
• 20% in second month following sale

The Accounts Receivable balance on May 1 was $91,000. Of this amount, $68,000 represented uncollected April sales and $23,000 represented uncollected March sales.

Part 1:

What is the expect cash to be collected in May?

Part 2:

The budgeted Accounts Receivable on September 1 would be: