Portia Incorporated is a retailer of scrapbooking products. The actual and forecast sales for the months of April through August are:
Revenues
April (actual) $ 251,200
May (actual) 277,400
June 302,400
July 352,400
August 352,400
All sales are credit sales. The collection pattern is 60% in the month of sale, 35% the following month and the remainder in the second month following the sale. Accounts receivable on April 1 were $124,900.
Prepare a cash receipts schedule for the period june through august (by month).