suppose a lumber yard has the following data: accounts receivable, may 31: (.2XMay sales of $360,000)=$72,000 Monthly forcasted sales: June, $437,000; July $441,000; August, $502,000; September, $531,000. Sales credit consist of 80% cash and 20% credit. All credit accounts are collected in the month following the sales. Uncollected accounts are negligible and may be ignored. prepare a sales budget schedule and a cash collections budget schedule for June, July, and August. I started but am stuck!

Times New ... 10 BIUSA. 1(G18:G19) B C D E F G H Data input Section: Lumber Yard Accounts receivable, May 31 $72,000 Monthly forecasted sales: June $437,000 0 July 441,000 August 502,000 2 September 531,000 3 Credit sales 20% Amount 4 Cash sales 80% Amount 5 Output Section: 6 Sales Budge 17 JuneJuly August Total 18 Credit sales $87,400 88,200 100,400 $87,400 19 Cash sales 349, 600 352,800 401,600 352,800 20 Total sales $87.400 $352,800 S- 0 $440.200 21 22 ish Collections Buds 23 June July August Total 24 Cash sales this month Formula 7 Formula 9 Formula 11 $-0 25 100% of last month's credit sales Formula 8 Formula 10 Formula 12 - 0 26 Total collections 5-0 S-0 $-0