Prepare a table that shows the computation of cash collections of its credit sales (accounts receivable) in each of the months of June and July.

Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units 5,000 1,800 5,500 6,000 3,600 Dollars $800,000 April (actual) May (actual) June (budgeted) July (budgeted) August (budgeted) 288,000 880,000 960,000 576,000 All sales are on credit. Recent experience shows that 28% of credit sales is collected in the month of the sale, 42% in the month after the sale, 27% in the second month after the sale, and 3% proves to be uncollectible. The product's purchase price is $110 per unit. All purchases are payable within 14 days. Thus, 60% of purchases made in a month is paid in that month and the other 40% is paid in the next month. The company has a policy to maintain an ending monthly inventory of 20% of the next month's unit sales plus a safety stock of 80 units. The April 30 and May 31 actual inventory levels are consistent with this policy. Selling and administrative expenses for the year are $1,416,000 and are paid evenly throughout the year in cash. The company's minimum cash balance at month-end is $140,000. This minimum is maintained, if necessary, by borrowing cash from the bank. If the balance exceeds $140,000, the company repays as much of the loan as it can without going below the minimum. This type of loan carries an annual 13% interest rate. On May 31, the loan balance is $49,500, and the company's cash balance is $140,000