The budgeted monthly service revenues for Cotsiopoulos Ltd for January to June are presented below. The entity’s experience is that 70% of monthly invoicing for services is on a credit basis. All cash sales receive a 2% discount. Of the credit sales, 40% are collected in the month following the service, 35% are collected in the second month following, and 21% are collected in the third month after invoicing; 4% are never collected. Total actual revenue invoiced during December was $46 000 and for November it was $66 000. Ignore GST.

The projected service revenues by month are as follows.

Required Calculate the forecast cash receipts from clients for March, April and May.

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January $24 000 February 54 000 March 96 000 April 156 000 May 108 000 June 72 000