Swifty 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 40% of sales are collected during the month of sale, 20% in the month following sale, and 35% 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 Credit sales collected during month Normal cash collection experience has been that 40% of sales are collected during the month of sale, 20% in the month following sale, and 3% 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 $ Credit sales collected during month Credit sales collected one month later Credit sales collected two months later Normal cash collection experience has been that 40% of sales are collected during the month of sale 20% in the month following sale, and 35% 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. Jul. Aug Sep. 3rd Qur nith h later hs later e Textbook and Media