Innovation Inc. has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $525,000 for April, $535,000 for May, and $560,000 for June. The beginning balance of Accounts Receivable is $296,800 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June April May June Cash sales Sales on account Total sales 44% 56% $ 0 $ 0$ 0 May June Innovation Inc Schedule of Cash Receipts For April, May, and June April Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts