Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales. March April May $ 39,000 June 45,000 July 34,000 August Sales Sales in January and February were $42,000 and $41,000 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. Collections of current sales Collections of prior month's sales. Collections of sales 2 months earlier Total cash receipts Uncollected Expected to be collected. $ 43,000 51,000 53,000 Amount $ $ January $ February $ Ed's Waterbeds Cash Receipts Schedule March $ b. Of the sales expected to be made during the six months from March to August, how much will still be uncollected at the end of August? How much of this is expected to be collected later? April $ $ May June $ $ $ July August $