Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $133,000 November 166,000 December 243,000 The Accounts Receivable balance on September 30 was $89,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. Office World Inc. Schedule of Collections from Sales For the Three Months Ending December 31   October November December Receipts from cash sales:       Cash sales       September sales on account       Collected in October       October sales on account       Collected in October       Collected in Noember       November sales on account:       Collected in November       Collected in December       December sales on account:       Collected in December       Total cash receipts

Schedule of Cash Collections of Accounts Receivable Bark & Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $160,000 June 230,000 July 350,000 All sales are on account. 53 percent of sales are expected to be collected in the month of the sale, 37% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July.   May June July May sales on account:       Collected in May $fill in the blank 1     Collected in June   $fill in the blank 2   Collected in July     $fill in the blank 3 June sales on account:       Collected in June   fill in the blank 4   Collected in July     fill in the blank 5 July sales on account:       Collected in July     fill in the blank 6 Total cash collected $fill in the blank 7 $fill in the blank 8 $fill in the…

Jasper Company has 56% of its sales on credit and 44% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $520,000 for April, $530,000 for May, and $555,000 for June. Total sales for March are $292,100. Prepare a schedule of cash receipts from sales for April, May, and June Sales Cash receipts from Cash sales Accounts payable Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales April 520,000 May 530,000 June 555,000

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Jasper Company has 56% of its sales on credit and 44% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $516,000 for April, $526,000 for May, and $551,000 for June. Total sales for March are $299,000. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales April May 516,000 526,000 June 551,000

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