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Schedule of Cash Collections of Accounts Receivable

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

October	$124,000
November	155,000
December	227,000

The Accounts Receivable balance on September 30 was $83,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

	October	November	December
Receipts from cash sales:
Cash sales	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3
September sales on account:
Collected in October	fill in the blank 4
October sales on account:
Collected in October	fill in the blank 5
Collected in November		fill in the blank 6
November sales on account:
Collected in November		fill in the blank 7
Collected in December			fill in the blank 8
December sales on account:
Collected in December			fill in the blank 9
Total cash receipts	$fill in the blank 10	$fill in the blank 11	$fill in the blank 12