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  3. macy's has prepared the following budgeted sales:

Macy's has prepared the following budgeted sales: April $ 453,000 May $ 465,000 June $...

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Accounting

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Macy's has prepared the following budgeted sales: April $ 453,000 May $ 465,000 June $ 497,000 July $ 519,000 August $ 505,000 Macy's estimates that sales are 40% in credit and the remainder in cash. Also, Macy's estimates that 45% of credit sales are collected In the month of sale, 35% of credit sales are collected in the month following the sale, and 5% of credit sales are collected in the second month following the sale. a. How much cash will Macy's collected in June? (Do not round Intermediate calculations.) Conh Receipts b. How much cash will Macy's collected in July? (Do not round intermediate calculatichs.) Cash Recipe b. How much cash will Macy's collected in July? (Do not round intermediate calculations.) Cash Receipts c. How much cash will Macy's collected in August? (Do not round intermediate calculations.) Cash Receipts

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