Portia is a retailer of scrapbooking products. The sales forecast for the coming months is: April (actual) May (actual) June July August Revenues $ 264,000 $ 289,000 $ 314,000 $364,000 $364,000 Portia's sales are all credit. The collection pattern is 60% in the month of sale, 35% the following month and the remainder in the second month following the sale. Accounts receivable on April 1 were $129,500. a. Prepare a cash receipts schedule for the period June through August (by month). June July August Month of Sale Month Following 2nd Month Total Collection b. What will the Accounts Receivable balance be on August 31? Accounts Receivable Balance