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Demonstration Problem 3 The management at Emerson Manufacturing Company is studying the cash inflow pattern in preparation for its cash budget. The following information is available Cash collected from current month's sales Cash collected from last month's sales Cash discount taken Uncollectible sales 40% 55% 29 100% For the second quarter of next year, the beginning balance of accounts receivable (523000) is expected to be collected in full in April. The expected credit sales of the second quarter are April May June $40.000 45,000 50,000 Required: Prepare a multi-period schedule of cash collections for the second quarter of next year