The A. R. Oddo Company is preparing a cash receipts schedule for the fourth quarter of 2005. Sales on account for August and September 2005 are expected to be \($200,000\) and \($220,000\), respectively. Budgeted sales for the fourth quarter of 2005 are presented here.

Expected collection pattern for sales on account:
20 percent in the month of sale 70 percent in the month following the sale 10 percent in the second month following the sale 0 percent uncollectible Required: Prepare a cash receipts schedule for the fourth quarter of 2005.

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The A. R. Oddo Company Sales Budget For the Quarter Ended December 31, 2005 Budgeted Cash Sales Budgeted Sales on Account Total Sales Oct $ 42,000 Nov $ 46,000 Dec $ 60,000 Total $148,000 210,000 230,000 300,000 740,000 $252,000 $276,000 $360,000 $888,000