[The following information applies to the questions displayed below.]

Midwest Products is a wholesale distributor of leaf rakes. Thus, peak sales occur in August of each year as shown in the companys sales budget for the third quarter, given below:

	July	August	September	Total
Budgeted sales (all on account)	$557,000	$ 793,000	$ 478,000	$1,828,000

From past experience, the company has learned that 15% of a months sales are collected in the month of sale, another 75% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. May sales totaled $425,000, and June sales totaled $505,000.

Exercise 8-1 Part 1

Required:
1.	Prepare a schedule of expected cash collections from sales, by month and in total, for the third quarter. (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

Schedule of Expected Cash Collections
	July	August	September	Total
May sales	$	$	$	$
June sales
July sales
August sales
September sales
Total cash collections	$	$	$	$