Schedule of Accounts Receivable Collections. Alton Corporation expects credit sales for next year as follows: first quarter. $50,000, second quarter, $70,000; third quarter. $140,000; fourth quarter, $200,000. Sales last quarter totaled $150,000. Seventy percent of credit sales are collected in the quarter of sale and 30 percent in the following quarter. Prepare a schedule of accounts receivable collections for each quarter and for the year.