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Jackson Bottle Yard, a recycling glass company, has supplied the following information in...

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Jackson Bottle Yard, a recycling glass company, has supplied the following information in relation to their actual sales in May and June and planned sales for July to September. Cash Credit Total $ $ $ Actual Sales for May 25,000 25,000 50,000 June 40,000 75,000 35,000 15,000 Estimated Sales for July 20,000 35,000 August 18,000 30,000 48,000 September 22,000 40,000 62,000 Past records indicate that expected receipts collected from debtors will be: 60 per cent in the month of sale 40 per cent in the month following the sale What is the projected cash inflow from accounts receivable (credit sales) in August? Select one: a $18,000 b. $32,000 O c. $26,000 d. $48,000 e. None of these

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