Milo company manufactures beach umbrellas. the company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: a. the marketing department has estimated sales as follows for the remainder of the year (in units): the selling price of the beach umbrellas is $14 per unit. july 41,500 october 31,500 august 93,000 november 18,000 september 62,000 december 18,500 b. all sales are on account. based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale 5% uncollectible sales for june totaled $588,000.