Sales for the second quarter for Roberts and Sons are expected to be $160,000 in April, $260,000 in May and $220,000 in June. All sales are on credit. Collections are expected to be 25% in the month of sale and 75% in the month following the month of sale. Accounts receivable at the end of March were $135,000. 1 F T: B I a. Calculate the cash receipts for each month in the second quarter and the total for the quarter. April May June Sales (S) 160,000 260,000 220,000 I b. Calculate the accounts receivable balance on June 30th