$($b$)$

Your answer is partially correct.

Prepare the quarter $2$ schedule of cash receipts $($outlining amounts for each month and for the quarter overall$).($Round answers to

$2$ decimal places, eg$.15\mathrm{.}25.)$Steven$\text{'}$s supervisor is working on the company's budgeted balance sheet for quarter $2,$ and he delegates budgeting for the ending $\frac{A}{R}$

balance to Steven. He gets right to work, realizing that he can't determine the June $30\frac{A}{R}$ balance without a schedule of cash receipts,

and all of that hinges on the sales forecast. He gathers information about the company's collection policies and trends, along with

relevant information from the sales department, as follows.

Sales volume is expected as follows: April, $600$ units; May, $870$ units; June, $695$ units; and July, $915$ units.

Average selling price is expected to be $$60$ per unit.

Historically, $25\%$ of each month's sales are cash sales; all remaining sales are on credit.

$50\%$ of each month's sales are credit card$/$debit card sales, subject to a $2\%$ merchant fee. All appropriate receipts will be

deposited into the company's account in the month of sale.

$25\%$ of each month's sales are trade credit sales. $30\%$ of trade credit customers pay their balance in the month of the sale, and

$65\%$ pay in full the month following the sale. $5\%$ of trade credit sales go uncollected.

The $\frac{A}{R}$ balance on March $31$ was $$8,100,$ reflecting the remaining collectible amount from March credit sales.