Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August, September, and october will be $370,000, $390,000, $80,000, and $00,000, respectively. 2. sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost ofgoods sold is 75% of sales. The company pays for 40% of its merchandise purchases in the month of the ase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July. 4. Monthly selling and administrative expenses are always $50,000. Each month $7,000 of this total amount is depreciation expense and the remaining S3.000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to bomow money or pay or declare dividends during the quarter ended September 30. mpany does not plan o issue any common stock or repurchase its own stock during the quarter ended September 30 Required: schedule of expected for July, August, and September Also compute total cash collections for the ended September 30 Month mber Quarter From accounts receivable From August sales From September sales Total cash collection