The following information has been provided by Jared Incorporated:
Budgeted sales for August and September are $120,000 and $140,000, respectively.
Budgeted inventory purchases for August and September are $60,000 and $84,000, respectively.
30% of purchases are paid for during the month of purchase and the remaining 70% are paid for during the subsequent month.
20% of sales are collected during the month of sale and the remaining 80% are collected during the subsequent month.
Variable operating costs are budgeted at 25% of sales. Fixed operating costs are budgeted at $21,000 monthly and include depreciation expense of $7,000. Operating costs are paid for in the month that they are incurred.
The cash balance on September 1st was $10,000. Jared's goal is to maintain a $10,000 cash balance. Jared can borrow cash in increments of $1,000.
How much cash will be colleted from customers during September?

Question

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The Answer of The following information has been provided by Jared Incorporated:
Budgeted sales for August and September are $120,000 and $140,000, respectively.
Budgeted inventory purchases for August and September are $60,000 and $84,000, respectively.
30% of purchases are paid for during the month of purchase and the remaining 70% are paid for during the subsequent month.
20% of sales are collected during the month of sale and the remaining 80% are collected during the subsequent month.
Variable operating costs are budgeted at 25% of sales. Fixed operating costs are budgeted at $21,000 monthly and include depreciation expense of $7,000. Operating costs are paid for in the month that they are incurred.
The cash balance on September 1st was $10,000. Jared's goal is to maintain a $10,000 cash balance. Jared can borrow cash in increments of $1,000.
How much cash will be colleted from customers during September?

The Following Information Has Been Provided by Jared Incorporated