Exercise 2) Accountaholics Corp. expects service revenue in the next 6 months as follows: Prior experience has shown that the following collections are made: - 25 percent of a month's revenue is collected in the month the service is performed - 24.5 percent in the month following the service being performed - 16.6 percent in the second month following the service being performed - 15.1 percent in the third month following the service being performed - 5.6 percent in the fourth month following the service being performed - Remainder is collected in the fifth month following the service being performed March and April service revenues were $765,000 and $740,000 respectively. Required: Estimate budgeted cash reccipts (serviee revenue collected) for August, September, and October. Exercise 2) Accountaholics Corp. expects service revenue in the next 6 months as follows: Prior experience has shown that the following collections are made: - 25 percent of a month's revenue is collected in the month the service is performed - 24.5 percent in the month following the service being performed - 16.6 percent in the second month following the service being performed - 15.1 percent in the third month following the service being performed - 5.6 percent in the fourth month following the service being performed - Remainder is collected in the fifth month following the service being performed March and April service revenues were $765,000 and $740,000 respectively. Required: Estimate budgeted cash reccipts (serviee revenue collected) for August, September, and October