Aretes expects total sales of $699,500 for January and $355,000 for February. Assume that Aretes's sales are collected as follows:

60% in the month of the sale

20% in the month after the sale

17% two months after the sale

3% never collected

November sales totaled $392,000 and December sales were $400,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar. (If a bix is not used in the table leave the box empty; do not enter a zero)

CASH RECEIPTS FROM CUSTOMER

	January	February
Total Sales
Cash Receipts from Customer:
Nov.-Credit sales, collection of Nov. sales in Jan.
Dec.-Credit sales, collection of Dec. sales in Jan.
Dec.-Credit sales, collection of Dec. sales in Feb.
Jan.-Credit sales, collection of Jan. sales in Jan.
Jan.-Credit sales, collection of Jan. sales in Feb.
Feb.-Credit sales, collection of Feb. sales in Feb.
Total cash receipts from customers