Jackson Company has developed the following sales projections for the calendar year: May $108,000 June 128,000 July 148,000 August 168,000 September

Jackson Company has developed the following sales projections for the calendar year:

May $108,000
June 128,000
July 148,000
August 168,000
September 158,000
October 138,000
Normal cash collection experience has been that 50% of sales is collected during the month of sale and 45% in the month following the sale. The remaining 5% of sales are never collected. Jackson’s budgeted cash collections for the third calendar quarter are: _______

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