G.M.Thul is a retailer of assorted baby products. The sales forecast for the coming months is:

	Revenues
April (actual)	$	180,000
May (actual)	$	203,000
June	$	224,000
July	$	242,000
August	$	232,000

All sales are credit sales. The cash collection pattern is 20% in the month of sale, 65% in the month following the sale, and the remainder in the second month following the sale. Accounts receivable on June 1 were $189,400.

a.	Prepare a cash receipts schedule for the period June August (by month). (Omit the "$" sign in your response.)

	June	July	August
Month of sale	$	$	$
Month following
2nd month
Total collection	$	$	$

b.	What will the Accounts Receivable balance be on August 31? (Omit the "$" sign in your response.)

Accounts receivable balance

$