Schedule of Cash Collections on Accounts Receivable and Cash BudgetBennett Inc. found that about 40%

Schedule of Cash Collections on Accounts Receivable and Cash BudgetBennett Inc. found that about 40% of its sales during the month were for cash. Bennett has the following accounts receivable payment experience:Percent paid in the month of sale25  Percent paid in the month after the sale68  Percent paid in the second month after the sale5  Bennett’s anticipated sales for the next few months are as follows:April$250,000  May290,000  June280,000  July295,000  August300,000  1. Calculate credit sales for May.$Calculate credit sales for June.$Calculate credit sales for July.$Calculate credit sales for August.2. Make