Alpha CD makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale.  If sales for June July, and August were P120,000, P160,000, and P220,000, respectively, what were the firm’s budgeted collections for August and the company’s budgeted receivables balance on August 31? (1) August Collections (2) August 31 Receivables Balance

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