See attachment.

Midwest Products is a wholesale distributor of leaf rakes. Thus, peak sales occur in August of each year as shown in the company's sales budget for the third quarter, given below:

	July	August	September	Total
Budgeted sales (all on account)	$579,000	$ 865,000	$ 479,000	$1,923,000

From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 5% are collected in the second month following sale. Bad debts are negligible and can be ignored. May sales totaled $431,000, and June sales totaled $511,000.

Required:
	1. Prepare a schedule of expected cash collections from sales, by month and in total, for the third quarter.(Do not round intermediate calculations.) 2. Assume that the company will prepare a budgeted balance sheet as of September 30. Compute the accounts receivable as of that date.(Do not round intermediate calculations.)