Clay Co'S Projected Sales Are as Follows $$\begin{array} { l l } \text { August } & \$ 400,000 \\\text { September } & \$ 450,000 \\\text { October } & \$ 550,000\end{array}$$

Essay

Clay Co.'s projected sales are as follows: $$\begin{array} { l l } \text { August } & \$ 400,000 \\\text { September } & \$ 450,000 \\\text { October } & \$ 550,000\end{array}$$ Clay estimates that it will collect 30% in the month of sale 50% in the month after the sale and 18% in the second month following the sale. Two percent of all sales are estimated to be bad debts.
Instructions
How much are Clay Co.'s budgeted cash receipts for October?