The following data has been provided for Mrs Penny Pie Company April May June July Cred $98 000 $105 000 $102 000 $106 000 Credit sales are normally settled: 50% in the month of the sale, 30% in the month after the sale, and 20% in the 2nd (second) month after the sale For each question below use the above information (It will be necessary for you to prepare the full schedule to be able to provide the correct solutions) 1. Calculate the total expected collections from customers for the month of June Choose... 2. Calculate the total expected collections from customers for the month of July Choose... For each question below use the above information (It will be necessary for you to prepare the full schedule to be able to provide the correct solutions) 1. Calculate the total expected collections from customers for the month of June Choose... 2. Calculate the total expected collections from customers for the month of July Choose... - 3. What is the purpose of preparing the above schedule of receipts from accounts receivable? Choose