The May through September months represent a seasonal slow down in Bovine Natural Gas business. Due to the seasonal downturn, the firm develops a cash budget in order to plan for possible cash shortfalls. Based on historical trends, the firms economic forecasting staff has provided the following information:

Month	Sales Estimated	Wages	Overhead (Cash)
June	$21,000,000
July	20,000,000
August	18,000,000	$10,500,000	$5,000,000
September	20,000,000	8,000,000	5,000,000
October	24,600,000	9,200,000	5,000,000

All of Bovines sales are on credit with 85 percent are collected in the month following the sale. The remaining 15 percent are collected two months after the sale. Material expenses are 45 percent of the current months sales and are paid in the month incurred. All wages and overhead are paid in the month incurred. As part of the firms extension of its pipeline, a month payment of $6,000,000 is required through the end of the year. The firm also plans on paying cash for the $4,000,000 in new computer equipment it receives in October. In September the firm must repay a $3,000,000 note. The firm has a cash balance of $40,000,000 at the end of July. The firm desires to have a cash balance of at least $25,000,000 at the end of each month. The firm has a line of credit that allows it to borrow up to $20,000,000.

1.) Prepare a monthly cash budget for August through October.

2.) What is the beginning balance in Accounts Receivable?

3.) How much is the ending balance in Accounts Receivable?