Norman Corp. has prepared the sales budget.

The expected sales are as follows: $84,000 for March, $100,000 for April, $92,000 for May, $116,000 for June, and $98,000 for July.

Credit sales are 80% of total sales, and cash sales are remaining 20%. Collections of account receivables are 80% in the month of sale (and subject to 1% discount), 15% in the month following the sale. The remaining 5% is expected to be uncollectible.

REQUIRED: (a) Prepare a schedule of cash collections for April through June.

(b) What is the ending accounts receivable balance on May 31?