The Kafusi Company has the following budgeted sales:

The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.

The budgeted cash receipts for July would be:

May $300,000$350,000 Apri une Jul Credit sales Cash sales $320,000 400,000 $70,000 $70,000 $80,000 $90,000