Budgeted sales for the third quarter of the year for Brown Company are as follows: July August September Budgeted Sales $300,000 375,000 450,000 The company normally collects 30 percent in the month of sale and 65 percent in the month following the sale. Five percent of all sales are uncollectible and are written off in the following month. The balance in accounts receivable at July 1 was $245,000, which represents 70 percent of June sales. Required: Prepare a schedule of cash collections on accounts receivable for the third quarter. Budgeted sales for the third quarter of the year for Brown Company are as follows: July August September Budgeted Sales $300,000 375,000 450,000 The company normally collects 30 percent in the month of sale and 65 percent in the month following the sale. Five percent of all sales are uncollectible and are written off in the following month. The balance in accounts receivable at July 1 was $245,000, which represents 70 percent of June sales. Required: Prepare a schedule of cash collections on accounts receivable for the third quarter