Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales. 2 March April May $ 34,000 June 40,000 July 29,000 August $ 38,000 46,000 48,000 10 points Sales in January and February were $37,000 and $36,000 respectively. Experience has shown that 5 percent of total sales are uncollectible, 40 percent are collected in the month of sale, 50 percent are collected in the following month, and 5 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August. References January $ 37000 $ Ed's Waterbeds Cash Receipts Schedule February March 36000 34000 13600 18000 1850 5 Sales Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier April $ 40000 16000 17000 1800 May 29000 11600 14500 1700 $ 33450 $ 34.800 $ 27800 Total cash receipts the color vente in this the fact that has the one