Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales March April May $ 48,000 June 54,000 July 43,000 August $ 52,000 60,000 62,000 Sales in January and February were $51,000 and $50,000 respectively, Experience has shown that 10 percent of total sales are uncollectible, 35 percent are collected in the month of sale, 45 percentare collected in the following month, and 10 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August January $ 51000 Ed's Waterbeds Cash Receipts Schedule February March $ 50000 $ 48000 April $ 54000 Sales Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier Lee Towing on, and percendie corec w mon diverse a. Prepare a monthly cash receipts schedule for the firm for March through August January $ 51000 Ed's Waterbeds Cash Receipts Schedule February March $ 50000 $ 48000 April $ 54000 Sales Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier Total cash receipts 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? Uncollected Expected to be collected Amount 5 $ inuary 51000 Ed's Waterbeds Cash Receipts Schedule February March $ 50000 $ 48000 April $ 54000 May $ 43000 June $ 52000 July $ 60000 August $ 62000 1 March to August, how much will still be uncollected at the end of