2. Eaton Stores has forecast credit sales for the fourth quarter of the year as:

Experience has shown that 30 percent of sales receipts are collected in the month of sale and 60 percent in the following month, and 10 percent are never collected.
Prepare a schedule of cash receipts for Eaton Stores covering the fourth quarter (October through December).

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September (actual). October.... November December Fourth Quarter $100,000 $ 70,000 50,000 80,000