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ABC Company's budgeted sales for June, July, and August are 14,200,18,200, and 16,200 units respectively....

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Question

Accounting

ABC Company's budgeted sales for June, July, and August are 14,200,18,200, and 16,200 units respectively. The selling price for each unit is $15. Based on past experience, ABC expects that 40% of a month's sales will be collected in the month of sale, 55% in the following month, and 2% in the second month following the sale.
Required:
Prepare an analysis of cash receipts from sales for ABC Company for August.
\table[[,June,July,August],[Budgeted sales units,,,],[Unit selling price,,,],[Budgeted sales revenue,,,],[August collections:,,,],[Current month's sales,,,],[Prior month's sales,,,],[Second prior month's sales,,],[Total collections,,,]]N
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