Schedule of Cash s of Accounts Receivable Supplies Inc, a pet wholesale suppler,was organized on May 1. Projected sates for each of the first three months of operatons are as follows: $280,000 320,000 480,000 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. Prepare a schedule indicating cash collections from sales for May, June, and July Furry Friends Supplies Inc. Schedule of from Sales For the Three Months Ending May 31 May June July May sales on account: Collected in May Collected in June Collected in July June sales on acoount Collected in June May June uly 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. Prepare a schedule indicating cash collections from sales for May, June, and July $280,000 320,000 480,000 Furry Friends Supplies Ine 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 Collected in July June sales on account Collected in June Collected in July July sales on account Collected n July Total cash colected