Schedule of Cash Receipts. Thurmond Company has projected sales for the year as follows: fin quarter, $40,000; second quarter, $30,000: third quarter, $50,000; fourth quarter, $80,000. Thin percent of sales are cash sales, and 70 percent are credit sales. Credit sales are collected in th quarter following the quarter in which the sales were made. Beginning accounts receivable m $35,000. Bad debts are negligible. Required: Prepare a schedule of cash receipts for each quarter and for the year.