Create a table in Word and prepare a schedule of cash collections. Only $1$ schedule required to complete option $1$ or $2.$

$1.$ ABC Company's sales are $30\%$ in cash and $70\%$ on credit. Sixty percent of the credit sales are collected in the month of sale, $25\%$ in the month following sale, and $12\%$ in the second month following sale. The remainder are uncollectible. The following are budgeted sales data:

January

February

March

April

Total sales

$$60,000$

$$70,000$

$$50,000$

$$30,000$

$2.$ Twenty$-$five percent of the XYZ$\text{'}$s company's sales are for cash and $75\%$ are on credit. Collections for sales on credit follow a stable pattern as follows: $50\%$ of a month's sales are collected in the month of sale, $30\%$ are collected in the month following sale, and $15\%$ are collected in the second month following sale. The remainder is uncollectible. Given this data, cash collections in December should be$?$

September

October

November

December

Budgeted sales

$$100,000$

$$160,000$

$$180,000$

$$120,000$

Example of table below.

$10$ points

Schedule of Expected Cash Collections

Total

sales:

sales:

sales:

sales:

Total Cash Collections

$\_\_\_\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_\_\_\_$

$\_$

$\_\_\_\_$