PROBLEMS Problem 9.28 Cash Budget and Associates has found from past experience that 25 percent of its services are for Noor The remaining 75 percent are on credit. An aging schedule for accounts receivable reveals the following pattern: t nercent of fees on credit are paid in the month that service is rendered. A0 Dercent of fees on credit are paid in the month following service. 26 percent of fees on credit are paid in the second month following service. d 4 percent of fees on credit are never collected. eruice are considered overdue and are subject to a 3 percent late charge. on credit) that have not been paid until the second month following performance of the Noonan and Associates has developed the following forecast of fees: May June July August September S180,000 200,000 190,000 194,000 240,000 Required: Prepare a schedule of cash receipts for August and September