Eastern Auto Parts Inc. has 15 percent of its sales paid for in cash and 85 percent on credit. All credit accounts are collected in the following month.

Assume the following sales:

January$61,000

February51,000

March 96,000

April 41,000

Sales in December of the prior year were $71,000.

Find the cash receipts schedule for January through April.

Eastern Auto Parts Inc.

JanuaryFebruary March April

Sales$ ? ? ? ?

Cash receipts:

Cash sales$ ? ? ? ?

Prior month's credit sales ? ? ? ?

Total cash receipts $ $59,500 $57,500 $87,750