eBook Show Me How Calculator Print Item Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $390,000 February 460,000 March 650,000 All sales are on account. 52% of sales are expected to be collected in the month of the sale, 43% in the month following the sale, and the remainder in the second me following the sale. Prepare a schedule Indicating cash collections from sales for January, February, and March. Pet Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending March 31 January February March January sales on account: Collected in January 202.00 Collected in February Collected in March February sales on account: Collected in February 239,200 Collected in March 338,000 X March sales on account: Collected in March Total cash collected 202,800 Check My Work Check My Work Previous