Preparing a Schedule of Cash Collections on Accounts Receivable Kallus and Company is a legal services firm. All sales of legal services are bilied to the client (there are no cash sales). Kallua 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 bilings are expected: May $84,000 June 100,800 July 27,000 August 87,900 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. 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. Kailua and Company Schedule August September June: 100,800 x 25 % 25,200 0 July 77,000 x 50 % 38,500 77,000 259 19,250 August: 87,900 x 20 % 17,580 V 87,900 x 50 % 43,500 x September: 90,000 20 % 0 18,000 Total cash receipts 81,280 80,750 x