Question Help Suppose a lumber yard has the following data: Accounts receivable, May 31: (0.40 x May sales of $351,000)-$140,400 Monthly forecasted sales: June, $430,000, July, $447,000, August, $501,000, September, $536,000 All credit accounts are collected in the month foilowing the sales. Uncollecdtble accounts are negligible and may be ignored ollected inthe month following Sales donsist of 60% cash and 40% cred. a sales budget schedule and a cash collections budget schedule for June, July, and August. Requirement 1. Prepare a sales budget schedule for June, July, and August Sales budget June July August Credit sales Cash sales Total sales Prepare a cash collections budget schedule for June, July, and August Cash collections budget June July August Cash sales this month 100% of last monts credit sales Enter any number in the edit fields and then continue to the next