ABC Company is preparing its cash budget for the next month. The accounts receivables at the beginning of the month is P100,000. The budgeted sales for the month is P500,000. Based on the sales...

ABC Company is preparing its cash budget for the next month. The accounts receivables at the beginning of the month is P100,000. The budgeted sales for the month is P500,000. Based on the sales projections, 80% of the budgeted sales will be on credit. Credit customers usually pay the following month.

Required:

What are the budgeted sales receipts from customers for next month?