Question: On June 30, 2012, a company is preparing the cash budget for the third quarter. The collection pattern for credit sales has been 60% in

On June 30, 2012, a company is preparing the cash budget for the third quarter. The collection pattern for credit sales has been 60% in the month of sale, 30% in the first month after sale, and the rest in the second month after sale. Uncollectible accounts are negligible. There are cash sales each month equal to 25% of total sales. The total sales for the quarter are estimated as follows: July, $30,000; August, $15,000; September, $35,000. Accounts receivable on June 30, 2012 were $10,000. What amount would be the projected cash receipts for September? A$21.375 B$37,250 C$28,500 D$30,125

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