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EX 21-18 Schedule of cash collections of accounts receivable Obj. 5 OfficeMart Inc. has cash and carry customers and credit customers. OfficeMart estimates that 25%

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EX 21-18 Schedule of cash collections of accounts receivable Obj. 5 OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit custom- ers. Of the credit customers, 30% pay their accounts in the month of sale, while the remaining 70% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: d in 550 October November December $58,000 65,000 72,000 The Accounts Receivable balance on September 30 was $35,000. Prepare a schedule of cash collections from sales for October, November, and December

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