You are the marketing manager of Tizer Pharma Co. that began operations in Jan 2023. The business was a cash business (ie., did not accept credit) until May 2023, when they were able to build a credit approval process. Therefore, A/R balance as of May 1 2023 was $0. Actual revenues and collections are noted in the chart below. Expected sales revenues for the remaining six months of 2023 are as follows:
		$ thousands
May (actuals)		600
June (actuals)		600
July (forecast)		700
Aug (forecast)		700
Sept (forecast)		750
Oct (forecast)		750
Nov (forecast)		800
Dec (forecast)		800
From July 1 onwards, you expect the collection pattern to be as follows:
20% of sales are cash sales and are received in the month of sale.
50% of sales are on one months credit and paid in the month following sale.
30% of sales are paid in the second month following sale.
Required
Prepare a schedule of cash received and A/R balance from sales for July to December of the year.