Innovation Inc. has sales on account and for cash. Specifically, 64% of its sales are on account and 36% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $532,000 for April, $542,000 for May, and $567.000 for June. The beginning balance of Accounts Receivable is $302,100 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales Sales on account 36% 64% Total sales 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 May June