Schedule of Cash Collections of Accounts Receivable Fur Family Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: $570,000 740,000 July 1,350,000 May June All sales are on account. Of sales on account, 58% are expected to be collected in the month of the sale, 37% in the first month following the sale, and the remainder in the second month following the sale. FUR FAMILY INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July May sales on account: Collected in May 330,600 1 Collected in June Collected in July June sales on account: Collected in June Collected in July July sales on account: Collected in July Total cash collected 330,600