The sales budget for Andrew Inc. is forecasted as follows:

To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales:
¢ 50 percent in the month of sale.
¢ 25 percent in the month following sale.
¢ 20 percent in the second month following sale.
¢ 5 percent uncollectible.
The company gives a 2 percent cash discount for payments made by customers during the month of sale. The accounts receivable balance on April 30 is \($34,000\), of which \($10,000\) represents uncollected March sales and \($24,000\) represents uncollected April sales.
Required
Prepare a schedule of budgeted cash collections from sales for May, June, and July. Include a threemonth summary of estimated cash collections.

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Month May.. June July. August Sales Revenue $170,000 210,000 230,000 170,000