The budget director of Heather's Florist has prepared the following sales budget. The company had $370,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September $ $ Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales 75,000 $ 66,000 99,000 116,000 174,000 $ 182,000 84,000 123,600 207,600 $ $ Plus: Collections from accounts receivable Total budgeted collections $ 445,000 $ 165,000 $ 200,000 Exercise 1-3A (Algo) Preparing a schedule of cash receipts LO 1-2 The budget director of Heather's Florist has prepared the following sales budget. The company had $370,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable Gibson Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: June Required purchases (on account) April $111,000 May $131,000 $143,000 Gibson Books' accountant prepared the following schedule of cash payments for inventory purchases. Gibson Books' suppliers require that 90 percent of purchases on account be paid in the month of purchase; the remaining 10 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter