The following is the sales budget for the given months of BCO Pte Ltd.

The following is the sales budget for the given months of BCO Pte Ltd.:

Cash SalesCredit Sales

March$60,000$232,000

April$34,000$219,000

May$43,000$224,000

June$48,000$290,000

July$58,000$222,000

Additional information to be used determining the expected cash collections each month that will be used in preparing the cash budget:

Collections on Credit sales:

60% in month of sale

30% in month following sale

10% in second month following sale

The Accounts Receivable balance on March 1 was $60,000. Of this amount, $40,000 represented uncollected February sales and $20,000 represented uncollected January sales. Part 1:

What is the expect cash to be collected in March? $Answer

Part 2:

The budgeted Accounts Receivable on July 1 would be: Answer