83. Correct answer b. Johnsen’s budgeted cash receipts total $684,500 as shown below.
September cash sales = ($800,000 x .3) = $240,000
September sales collections = ($800,000 x .7 x .2) = 112,000
August sales collections = ($650,000 x .7 x .5) = 227,500
July sales collections = ($600,000 x .7 x .25) = 105,000
Total cash collections $684,500
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