Simpson Glove Company has made the following sales projections for the next six months. Al sales are credit sales 349,00 March April May June July August 40,000 55.000 66, 70,00 Sales in January and February were $41000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 45 percent are collected in the month of sale, 35 percent are collected in the following month, and 10 percentare collected two months after sale Prepare a monthly cash receipts schedule for the firm for March through August Simpson Glove Company Cash Receipts Schedule March April 49.000 $ 58.000 5 January February $ 41.000 39.000 $ May 40,000 $ June 55.000 s July August 66 000 $ 70,000 Credit sales In month of sale One month after sale Two months after sale Total cash receipts ols 05 0$ $ 0 $ 0 $