DeBerg Company has the following sales projections for its second and third quarters:

April		$100,000
May		$120,000
June		$140,000
July		$160,000
August		$150,000
September		$130,000

Normal cash collection experience has been that 50% of sales are collected during the month of sale, 30% in the month following sale, and 15% in the second month following sale. The remaining 5% of sales is never collected. Prepare the schedule of cash collections for the third quarter, by month and in total.

Cash Collection Schedule		Jul.		Aug.		Sep.		3rd Qtr
Total planned sales		$		$		$		$
Credit sales collected during month								$
Credit sales collected one month later								$
Credit sales collected two months later								$
		$		$		$		$