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E8-11 Calculating Cash Receipts [LO 8-4] Shadee Corp. expects to sell 590 sun visors in...

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Accounting

E8-11 Calculating Cash Receipts [LO 8-4]

Shadee Corp. expects to sell 590 sun visors in May and 390 in June. Each visor sells for $11. Shadees beginning and ending finished goods inventories for May are 70 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. It expects the following unit sales for the third quarter:

July 530
August 500
September 450

Sixty percent of Shadees sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 35 percent is collected during the following month, and 13 percent is never collected.

Required: Calculate Shadees total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.)

Total Cash Receipts: August:? September:?

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