Exercise 10-10

The Benton Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows:

January		$158,000
February		168,000
March		180,000

Credit sales in December 2017 are expected to be $217,000. The company expects to collect 66 percent of a months sales in the month of sale and 34 percent in the following month. Estimate cash receipts for each month of the first quarter of 2018.

Collection of credit sales	January		February		March
Collection of December sales	$		$		$
Collection of January sales
Collection of February sales
Collection of March sales
	$		$		$