E$8-11($Algo$)$ Calculating Cash Receipts $[$LO $8-4]$

Shadee Corporation expects to sell $630$ sun shades in May and $370$ in June. Each shades sells for $$19.$ Shadee$$s beginning and ending finished goods inventories for May are $70$ and $45$ shades, respectively. Ending finished goods inventory for June will be $60$ shades.

It expects the following unit sales for the third quarter:

July $560$

August $490$

September $420$

Sixty percent of Shadee$$s sales are cash. Of the credit sales, $54$ percent is collected in the month of the sale, $38$ percent is collected during the following month, and $8$ percent is never collected.