McFarland Company makes 60 percent of its sales in cash. Credit sales are collected as follows: 60percent

Question:

McFarland Company makes 60 percent of its sales in cash. Credit sales are collected as follows: 60 percent in the month of sale and 40 percent in the month following the sale.
McFarland’s budgeted sales for upcoming months follow:
June ...... $22,500
July ...... 25,000
August ..... 23,000
September ... 21,000

Required:
Compute McFarland’s expected cash receipts for August.