Portia is a retailer of scrapbooking products. The sales forecast for the coming months is: Revenues April (actual) $250,000 May (actual) $275,000 June $300,000 July $350,000 August $350,000 Portia's sales are all credit. The collection pattern is 60% in the month of sale, 40% the following month. Accounts receivable on April 1 were $122,500. a. Prepare a cash receipts schedule for the period June and July (by month). b. What will the Accounts Receivable balance be on August 31? a. June July Total collection b.