Furry Friends Supplies Inc., a pet wholesale supplier, was organited on May 1. Projected sales for each of the first three months of operations are as follow May $290,000 370,000 June July 550,000 All sales are on account. 52 percent of sales are expected to be collected in the month of the sale, 36% in the month following the sale, and the remainder in the second month following the sale Prepare a schedule indicating cash collections from sales for May June, and July Furry Friends Supplies Inc. Schedule of Collections from Sales For the Three Months Ending May 31 May June July May sales on account Collected in May Collected in June Collected in July Dune sales on account: Collected in June Collected in July July sales on account: Collected in July I Total cash collected