Splish Company has the following sales projections for its second and third quarters:

April		$ 300,000
May		$ 320,000
June		$ 340,000
July		$ 360,000
August		$ 350,000
September		$ 330,000

Normal cash collection experience has been that 55% of sales are collected during the month of sale, 20% in the month following sale, and 20% in the second month following sale. The remaining 5% of sales is never collected. Prepare the schedule of cash collections for the third quarter, by month and in total.

Cash Collection Schedule Jul. Aug. Sep. Total planned sales S $ $ $ Credit sales collected during month Credit sales collected one month later Credit sales collected two months later VA $ A $ Jul. Aug. Sep. 3rd Qtr $ $ $ $ $ $ $ $