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Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its own hoine charge accounts and has found from

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Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its own hoine charge accounts and has found from past experience that 10 percent of its sales are for cash. The remaining 90 percent are on credit, An aging schedule for accounts recevable reveals the following pattern: 15 percent of credit sales are poid in the month of sale. 65 percent of creda sales are paid in the first month following the sale. 14 percent of credit sales are paid in the second month folloming the sale. 6 percent of credit salet are never collected. Credit sales that have not been paid untif the second month following the sale are cortidered overdiot and are wubject to a 3 percent fate charge. Del Spencer's has develoeed the following sales forecast: Required; Piepare a schedule of cash receipts for Augunt and September. Round all amounts to the nearest dollar. Required: Prepare at schedule of cash receipts for August and Septumber, Bound all anosunts to the nearest doflar

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