Janzen Inc. sells all of its product on account. Janzen has the following accounts receivable payment experience:

Percent paid in the month of sale ..........20

Percent paid in the month after the sale ......60

Percent paid in the second month after the sale ...15

To encourage payment in the month of sale, Janzen gives a 2 percent cash discount. Janzen’s anticipated sales for the next few months are as follows:

April ......$200,000

May ......220,000

June ......230,000

July ......210,000

August .....250,000

Required:

1. Prepare a schedule of cash receipts for July.

2. Prepare a schedule of cash receipts for August.