Duffy Corporation has prepared the following sales budget: Month Cash Sales May June $16,000 20,000 18,000 Credit Sales $68,000 80,000 74,000 July August September 24,000 92,000 22,000 76,000 Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible. Required: Prepare a schedule of cash collections for July through September