Suppose a lumber yard has the following data: - Accounts receivable, May 31: (0.40 May sales of $354,000)=$141,600 - Monthly forecasted sales: June, $432,000; July, $445,000; August, $502,000; September, $531,000 Sales consist of 60% cash and 40% credit. All credit accounts are collected in the month following the sales. Uncollectible accounts are negligible and may be ignored. Requirement 1. Prepare a sales budget schedule and a cash collections budget schedule for June, July, and August. Requirement 1. Prepare a sales budget schedule for June, July, and August