Schedule of cash collections of accounts receivable OBJ. 5 OfficeMart Inc. has “cash and carry” customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 30% pay their accounts in the month of sale, while the remaining 70% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows:

October $58,000 November 65,000 December 72,000 The Accounts Receivable balance on September 30, 2016, was $35,000.

Prepare a schedule of cash collections from sales for October, November, and December.