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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 $30\%$ of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, $25\%$ pay their accounts in the month of sale, while the remaining $75\%$ pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

October $$116,000$

November $145,000$

December $212,000$

The Accounts Receivable balance on September $30$ was $$78,000.$

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

Office World Inc.

Schedule of Collections from Sales

For the Three Months Ending December $31$

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 $12$

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