Cash Receipts The sales budget for Perrier Inc. is forecasted as follows: une July August Month Sales Revenue 100,000 180,000 190,000 120,000 To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales .60 percent in the month of sale .20 percent in the month following sale .15 percent in the second month following sale . 5 percent uncollectible The company gives a 1 percent cash discount for payments made by customers during the month of sale. The accounts receivable balance on April 30 is $23,000, of which $8,000 represents uncollected March sales and $15,000 represents uncollected April sales. Prepare a schedule of budgeted cash collections from sales for May June, and July. Include a three-month summary of estimated cash collections. Perrier, Inc Schedule of Budgeted Cash Collections quarterly by Months May June Total Total Cash receipts: 3