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Clay Co'S Projected Sales Are as Follows  August $400,000 September $450,000 October $550,000\begin{array} { l l } \text { August } & \$ 400,000 \\\text { September } & \$ 450,000 \\\text { October } & \$ 550,000\end{array}

question 140

Essay

Clay Co.'s projected sales are as follows:  August $400,000 September $450,000 October $550,000\begin{array} { l l } \text { August } & \$ 400,000 \\\text { September } & \$ 450,000 \\\text { October } & \$ 550,000\end{array} Clay estimates that it will collect 30% in the month of sale 50% in the month after the sale and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts.
Instructions
How much are Clay Co.'s budgeted cash receipts for October?

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