The sales budget for Andrew Inc. is forecasted as follows: Month Kriflsue May $ 170,000June 210,000July 230,000August 1 10,000 To prepare a cash budget, the company must determine the budgeted cashcollections from sales. Historically, the following trend has been establishedregarding cash collection of sales: - 50 percent in the month of sale. 0 25 percent in the month following sale. - 20 percent in the second month following sale.0 5 percent uncollectible. The company gives a 2 percent cash discount for payments made by customers during the month of sale. The accounts receivable balance on April 30 is $34,000,of which $10,000 represents uncollected March sales and $24,000 representsuncollected April sales. Prepare a schedule of budgeted cash collections from sales for May, June, andJuly. Include a three-month summary of estimated cash collections