Endeavor Corp. has provided the following sales forecast for the first half of the year:

Month

Sales $($in $$)$ 

January

$50,000$ 

February

$60,000$ 

March

$70,000$ 

April

$80,000$ 

May

$90,000$ 

June

$100,000$ 

The company$’$s collection pattern is as follows:

$50\%$ of sales are collected in the month of sale.

$30\%$ of sales are collected in the month following the sale.

$20\%$ of sales are collected in the second month following the sale.

Requirement $1$: Prepare a cash collection budget for each month from March to June.

Requirement $2$: Provide the account receivable balance at July $1.$