$8$

Portia Incorporated is a retailer of scrapbooking products. The actual and forecast sales for the months of April through August are:

$02$:$15$:$16$

$\backslash$table$[[,],[$April $($actual$),$Revenues$],[$May $($actual$),251,300],[$June$,277,600],[$July$,302,600],[$August$,352,600]]$

All sales are credit sales. The collection pattern is $60\%$ in the month of sale, $35\%$ the following month and the remainder in the second month following the sale. Accounts receivable on April $1$ were $$125,100.$

Required:

a$.$ Prepare a cash receipts schedule for the period June through August $($by month$).$

b$.$ What is the expected Accounts Receivable balance at August $31?$