Metlock Company has the following sales projections for its second and third quarters: April May June July August September $220,000 $240,000 $260,000 $280,000 $270,000 $250,000 Normal cash collection experience has been that 45% of sales are collected during the month of sale, 20% in the month following sale, and 30% 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. 3rd Qtr Total planned sales $ Credit sales collected during month Credit sales collected one month later Credit sales collected two months later