Sunset Center's sales are all made on account. The firm's collection experience has been that 25 percent of a month's sales are collected in the month of sale, 65 percent are collected in the month following the sale, and 8 percent are collected in the second month following the sale The sales forecast for the months of may through August is: Sunset Center's sales are all made on account. The firm's collection experience has been that 25 percent of a month's sales are collected in the month of sale, 65 percent are collected in the month following the sale, and 8 percent are collected in the second month following the sale. The sales forecast for the months of May through August is: May June July August $ 240,000 $ 280,000 $ 300,000 $ 350,000 Calculate the cash collections that would be included in the cash budgets for July and August. Do not enter commas, decimals and dollar signs in your answers. JULY July Cash Collections 5 From the Month of May $240,000 x 96 = S From the Month of June $280,000 x S From the Month of July $300,000 x 5 From the Month of August $350,000 x 5 Total collected in July AUGUST August Cash Collections 5 $ un From the $240,000 Month of May From the $280,000 Month of June From the $300,000 Month of July From the Month $350,000 of % = August Total collected in August 5 $