85. Frank's Sporting Goods projects sales for the second quarter of 20XX to be as follows: April $100,000 May $120,000 June $110,000 20% of Frank's sales are for cash, 70% of accounts receivable are collected one month following the sale, and the rest are collected two months following the sale. January sales were $40,000, February sales were $60,000, and March sales were $80,000. a) Prepare a monthly schedule of cash receipts for the second quarter of 20XX. b) What is the balance in accounts receivable at the end of June?