An asterisk () will appear to the right of an incorrect entry FURRY FRIENDS SUPPLIES INC. Schedule of Collections from Sales For the Three Months Ending July 31 MayJuneJuly S 156,000 Projected total monthly sales $175,000 $180,000 Credit Sales Percent of Credit Sales May sales on account: Collected in May Collected in June Collected in July June sales on account: Collected in June Collected in July July sales on account: Collected in July Total cash collectod EX 22-18 Schedule of cash collections of accounts receivable Furry Friends Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected OBJ. 5 sales for each of the first three months of operations are as follows: May June July $156,000 175,000 180,000 Chapter 22 Budgeting Il sales are on account. Seventy percent of sales are expected to be collected in the month of the onth following the sale. sale, 25% in the month following the sale, and the remainder in the second Prepare a schedule indicating cash collections from sales for May, June, and July