total.

Question $4$

Peak sales for J & J Products, a wholesale distributor of leaf rakes, occur in August. Sales the company's planning budget for the third quarter are shown below:

July August September Total

Budgeted Sales on account $$600,000$$$900,000$$$500,000,$$$2,000,000$

From experience, the company has learned that $20\%$ of a month's sales are collected in the month of sale, another $70\%$ are collected in the month following sale and the remaining $10\%$ are collected in the second month following sale. Bad debts are negligible and can be ignored. May sales totaled $$430,000$ and June sales totaled $$540,000.$

Required: a$)$ Prepare a schedule of expected cash collections from sales, by month and in total, for the third quarter. b$)$ Compute the accounts receivable as September $30.$ Question $5$

Micro Corporation has budgeted sales of its microchips for next four month as follows: