Schedule of Cash Collections of Accounts Receivable Furry Friends Supplies 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 $170,000 230,000 July 300,000 June All sales are on account. 51 percent of sales are expected to be collected in the month of the sale, 37% in the month following the sale, and the remainder in the second month following the sale IIIIMIII Prepare a schedule indicating cash collections from sales for May, June, and July Furry Friends Supplies Inc. Schedule of Collections from Sales For the Three Months Ending May 31 May June July May sales on account: Collected in May Collected in June Cotected in suy une sales on account Collected in June Collected in July uy sales on account Collected in July Total cash collected