Answer:
June expected cash receipts = $66,250
July expected cash receipts = $82,500
August expected cash receipts = $92,500
Explanation:
Note: See the attached excel file for the cash budget and the calculation.
The firm's expected cash receipts for June, July, and August can be determined by preparing a cash receipts budget.
A cash receipts budget refers to a plan of expected cash to be received during a particular period.
From the attached excel file, the firm's expected cash receipts for June, July, and August are as follows:
June expected cash receipts = $66,250
July expected cash receipts = $82,500
August expected cash receipts = $92,500