27) Duffy Corporation has prepared the following sales budget:

MonthCash SalesCredit Sales

May$16,000$68,000

June20,00080,000

July18,00074,000

August24,00092,000

September22,00076,000

Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.

Required:

Prepare a schedule of cash collections for July through September.