Santiago is a retailer of scrapbooking products. The sales forecast for the coming months is: Revenues April (actual) $250,000 May (actual) $275,000 June $300,000 July $350,000 August $350,000 Santiago's sales are all credit. The collection pattern is 60% in the month of sale, 35% the following month and the remainder in the second month following the sale. Accounts receivable on April 1 were $122,500. Required: Prepare a cash receipts schedule for the period June through August (by month) a. Compute Santiago's cash receipts for June (blank 1). b. Compute Santiago's cash receipts for July (blank 2). c. Compute Santiago's cash receipts for August (blank 3). d. What will the Accounts Receivable balance be on August 31 (blank 4)