Leding information to prepare a cost of goods sold budget for September 2016 EX 22-18 Schedule of cash collections of accounts receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1, 2016. Projected sales for each of the first three months of operations are as follows: OBI.5 May June July $134,000 155,000 169,000 All sales are on account. Sixty-five percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July