Schedule of Cash Collections on Accounts Receivable and Cash Budget Selig Inc. found that about 25% of its sales during the month were for cash. The company has the following accounts receivable collection experience: Selig's anticipated sales for the next few months are as follows: This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions bel Do not round intermediate calculations. Round all amounts to the nearest dollar. 1. Calculate credit sales for May, June, July, and August. 2. Prepare a schedule of cash receipts for July and August