The budget director of Amy’s Florist has prepared the following sales budget. The company had \($200,000\) in accounts receivable on July 1. Amy’s Florist normally collects 100 percent of accounts receivable in the month following the month of sale.

Required

a. Complete the schedule of cash receipts by filling in the missing amounts.

b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.

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Sales Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts July August September $ 60,000 $ 66,000 $ 72,600 150,000 165,000 $210,000 $231,000 181,500 $254,100 Current cash sales ? ? ? Plus collections from accounts receivable ? ? ? Total budgeted collections $260,000 $216,000 $237,600