Ivanhoe Company has the following sales projections for its second and third quarters: April $ 190,000 May $ 210,000 June $ 230,000 July $ 250,000 August $ 240,000 September $ 220,000 Normal cash collection experience has been that 40% of sales are collected during the month of sale, 20% in the month following sale, and 35% in the second month following sale. The remaining 5% of sales is never collected. Prepare the schedule of cash collections for the third quarter, by month and in total. Cash Collection Schedule Jul. Aug. Sep. Total planned sales $ GA $ Credit sales collected during month Credit sales collected one month later Credit sales collected two months later $ $ $ Jul. Aug. Sep. 3rd Qtr GA $ $ $ $ $ $ $ $ $ $ $ $ $ GA $ $