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14. Jackson Company has developed the following sales projections for the calendar year: May $ 100,000...

14.

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

May $ 100,000
June 120,000
July 140,000
August 160,000
September 150,000
October 130,000

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: (CMA adapted)

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