Cash Budget Aragon and Associates has found from past experience that 25% of its services are for cash. The remaining 75% are on credit. An aging schedule for accounts receivable reveals the following patterns a. Ten percent of fees on credit are collected in the month that service is rendered b. Sixty percent of fees on credit are collected in the month following service. c. Twenty-six percent of fees on credit are collected in the second month following service d. Four percent of fees on credit are never collected. Fees (on credit) that have not been paid until the second month following performance of the legal service are considered overdue and are subject to a 3% late charge Aragon has developed the following forecast of fees: May $180,000 June 200,000 July 190,000 August 194,000 September 1240,000 Required: Prepare a schedule of cash receipts for August and September. If an amount box does not require an entry, leave it blank or enter "o". Round answers to the nearest dollar. Aragon and Associates Schedule of Cash Receipts eBook Rugusy 79 September 240,000 Required: Prepare a schedule of cash receipts for August and September. If an amount box does not require an entry, leave it blank or enter "o". Round answers to the nearest dollar, Aragon and Associates Schedule of Cash Receipts For August and September August September Cash fees 194,000 X 240.000 X Received from sales in: June 48,500 x 60,000 X July 14.550 X 18,000 X Augus 85,500 x 87,100 September 40,170 x 38,065 X Total 185,720 253,365 X