Blair is a retailer of assorted baby products. The sales forecast for the coming months is: April (actual) May (actual) June July August Revenues $175,000 $ 204,000 $221,000 $245,000 $231,000 All sales are credit sales. The cash collection pattern is 25% in the month of sale, 70% in the month following the sale, and the remainder in the second month following the sale. Accounts receivable on June 1 were $161,750. a. Prepare a cash receipts schedule for the period June through August (by month). June July August Month of Sale Month Following 2nd Month Total Collection $ 0 $ 0 $ 0 b. What will the Accounts Receivable balance be on August 31? Accounts Receivable Balance