Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow.

Units Dollars
April (actual) 3,500 $560,000
May (actual) 2,400 384,000
June (budgeted) 8,000 1,280,000
July (budgeted) 5,000 800,000
August (budgeted) 4,000 640,000

All sales are on credit. Recent experience shows that 28% of credit sales is collected in the month of the sale, 42% in the month after the sale, 29% in the second month after the sale, and 1% proves to be uncollectible. The product’s purchase price is $110 per unit. All purchases are payable within 15 days. Thus, 60% of purchases made in a month is paid in that month and the other 40% is paid in the next month. The company has a policy to maintain an ending monthly inventory of 25% of the next month’s unit sales plus a safety stock of 100 units. The April 30 and May 31 actual inventory levels are consistent with this policy. Selling and administrative expenses for the year are $1,464,000 and are paid evenly throughout the year in cash. The company’s minimum cash balance at month-end is $130,000. This minimum is maintained, if necessary, by borrowing cash from the bank. If the balance exceeds $130,000, the company repays as much of the loan as it can without going below the minimum. This type of loan carries an annual 11% interest rate. On May 31, the loan balance is $34,000, and the company’s cash balance is $130,000.

Prepare a table that shows the computation of cash collections of its credit sales (accounts receivable) in each of the months of June and July