Blair is a retailer of assorted baby products. The sales forecast for the coming months is:

	Revenues
April (actual)	$	180,000
May (actual)	$	204,000
June	$	224,000
July	$	242,000
August	$	231,000

All sales are credit sales. The cash collection pattern is 25% in the month of sale, 65% in the month following the sale, and the remainder in the second month following the sale. Accounts receivable on June 1 were $171,000. a. Prepare a cash receipts schedule for the period June through August (by month). b. What will the Accounts Receivable balance be on August 31?