7 J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September (actual) $ 56,000 9.09 points Fourth Quarter October November December $ 46,00e 41,000 66.000 eBook Experience has shown that 40 percent of sales are collected in the month of sale, 50 percent are collected in the following month, and 10 percent are never collected Hint Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). J. Lo's Clothiers Print September October November December 41,000 S 16.400 S Credit sales 56,000$ 46,000 $ 66,000 References In month of sales 18,400 26,400 One month after sales Total cash receipts 18,400 $ 16,400 S 26,400