Innovation Inc. has sales on account and for cash. Specifically, 60% of its sales are on account and 40% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $524 000 for April, $534,000 for May, and $559.000 for June. The beginning balance of Accounts Receivable is $309.000 on April 1 Prepare a schedule of budgeted cash receipts for April May, and June April May June 40% Cash sales Sales on account Total sales 60% 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