Cash receipts A firm has actual sales of $65,000 in April and S60,000 in May. It expects sales of $70,000 in June and $100,000 in July and in August. Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following 2 months, what are the firm's expected cash receipts for June, July, and August? Complete the cash receipts table below: (Round to the nearest dollar.) April May June July August 70,000 $ Sales Cash sales Collections: 65,000 $ 60,000 $ 100,000 $ 100,000 Lag 1 month Lag 2 months Total cash receipts