Schedule of Cash Collections of Accounts Receivable Pet Stop 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 June July All sales are on account. of sales on account, 54% are expected to be collected in the month of the sale, 42% 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 $310,000 430,000 570,000 PET STOP INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July May sales on account: Collected in May 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