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Part II (15 Question One Marks) Winter Products is a wholesale distributor of snow ploughs in Australia. Thus, peak sales occur in August of each year as shown in the company's sales budget for the third quarter, given below: Jul Aug Sept Budgeted Sales (All on account) $ 500,000 $ 650,000 $500,000 a From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. May sales totaled $450,000, and June sales totaled $550,000. Required: Prepare a schedule of expected cash collections from sales by month. (July, August, and September)