# Question 2View PoliciesCurrent Attempt in ProgressDrew Enterprises reports all its sales on credit, and pays operating costs in the month incurred. Estimated amounts forthe months of June through October are:August September OctoberJulyJune\$310,000 \$330,000 \$300,000 \$280,000 \$260,000Budgeted salesBudgeted purchases \$144,000 \$120,000 \$128,000 \$132,000 \$90,000. Customer amounts on account are collected 60% in the month of sale and 40% in the following month.. Cost of goods sold is 45% of sales.. Drew purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month.How much cash is budgeted to be received during August?\$312,000.O \$318,000.O \$291,000.\$180,000.)hp19 4fn+insprt scdeletehomeend&76numbackspacelockPhomeHJK4enter

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Step 1

Budgeted cash receipts are a part of cash budgets that represents the amount of cash that is expected to be collected by an organization depending on the sales forecasted in the sales budget.

Step 2

To calculate cash budgeted to be receive in August:

Cash received from the sales of July= 40% of \$330,000

= \$132,000

Cash received from the sales of August= 60% of \$300,000

&n...

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