Exercise $7-3$A $($Static$)$ Preparing a schedule of cash receipts LO $7-2$

The budget director of Heather's Florist has prepared the following sales budget. The company had $$50,000$ in accounts receivable on July $1.$ Heather'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.

Complete this question by entering your answers in the tabs below.

Required A

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

$\backslash$table$[[,$July,August,September$],[$Sales Budget,,,,,,$],[$Cash sales,$$,40,000,$$$,42,500,$$$,45,000],[$Sales on account,,$45,000,,54,000,,64,800],[$Total budgeted sales,$$,85,000,$$$,96,500,$$$,109,800],[$Schedule of Cash Receipts,,,,,,$],[$Current cash sales,,,,$*,,],[$Plus: Collections from accounts receivable,,,,,,$],[$Total budgeted collections,$$,90,000,$$$,87,500,$$$,99,000]]$