Help Save & Exit Submit Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales. March April May $ 32,000 June 38,00 July 27,000 August $36,00 44,00 46,000 Sales in January and February were $35.000 and $34,000 respectively Experience has shown that 10 percent of total sales are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August, Ed's Waterbeds Cash Receipts Schedule January February March April Sales $ $ Collections of current sales Collections of prior nonth's sales Collections of sales 2 months earlier May $ Total cash receipts