Preparing a Schedule of Cash Collections on Accounts Receivable Kailua and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Kailua expects that, on average, 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. For the next 5 months, the following sales billings are expected: May $84,000 June 100,800 July 77,000 August 87,500 September 90,000 Required: Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an amount box does not require an entry, leave it blank or enter "0". Be sure to enter percentages as whole numbers. June: July: x Kailua and Company Schedule August September Check My Work 3 more Check My Work uses remaining. Next> All work saved. Email Instructor Save and Exit Submit Assignment for Grading Required: Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an amount box does not require an entry, leave it blank or enter "0". Be sure to enter percentages as whole numbers. June: 0.000 July: August: September: Total cash receipts Kallua and Company Schedule August September % % Check My Work 3 more Check My Work uses remaining Next>> All work saved. Email Instructor Save and Exit Submit Assignment for Grading