Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few month are as follows: 1. Prepare a schedule of cash receipts for July. Be sure to enter percentages as whole numbers. 2. Prepare a schedule of cash receipts for August. Be sure to enter percentages as whole numbers. Roybal Inc. Schedule of Cash Receipts For August Payments on account: From June credit sales: From July credit sales: % From August credit sales: Less: August cash discount $ x % Cash receipts