In Class Exercise 8-5 (LO 4) The sales revenues of Strong, Inc. for this coming year are given in the following table. 40% of the total sales are paid by cash in the same quarter of sales and 60% of total sales are credit sales. Strong, Inc. expects to collect 50% of the credit sales in the same quarter and the remaining 50% of credit sales in the next quarter. The beginning balance of accounts receivable is $50,000 (i.e., the remaining credit sales from the last quarter of the previous year to be collected). Compute the schedule of cash collections for Strong, Inc. (S)