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: May $570,000 June 740,000 July 1,350,000 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 Prepare a schedule indicating cash collections from sales for May, June, and July FUR FAMILY INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July May sales on account: $ 330,600 Collected in May Collected in June Collected in July 210,900 June sales on account: Collected in June 429,200 Collected in July 49,950,000 July sales on account: Collected in July Total cash collected 330,600 nevious