Ressen Company finds that typically 30% of a month's sales are for cash. Payments on accounts receivable are 60% in the month of sale and 38% in the month following sale. Budgeted sales for June are $100,000, for July $140,000, and for August $120,000. What are the total cash receipts budgeted for July?
A) $127,400
B) $85,400
C) $122,000
D) $262,000
E) $140,000
A
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