1. Sales Budget and a Cash Collections budget (10%). Suppose a lumber yard has the following data: . Accounts receivable, May 31: (.3 X May sales of $306.667) = $92,000 Monthly forecasted sales: June, $637,000; July, $541,000; August, $602,000; September, $531,000 Sales consist of 70% cash and 30% credit. All credit accounts are collected in the month following the sales. Uncollectible accounts are negligible and may be ignored. Prepare a sales budget schedule and a cash collections budget schedule for June, July, and August. Evaluate and analyze your results