Pet Joy Wholesale Inc., a pet wholesale supplier, began operations on 1 May 2017. Projected sales for each of the first three months of operations are as follows: Cash sales Credit sales May $ 29,500 $ 265,700 June 36,900 332,100 July 49,200 442,800 The company expects to sell 10% of its merchandise for cash. Of credit sales, 50% are expected to be collected in the month of sale, 35% in the month following the sale and the remainder in the second month following the sale. Prepare a schedule of cash collections for May, June and July. May June July $ $ $ Total cash collected