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J . Lo s Clothiers has forecast credit sales for the fourth quarter of the year: Fourth Quarter September ( actual ) $ 5 4

J. Los Clothiers has forecast credit sales for the fourth quarter of the year:
Fourth Quarter
September (actual) $ 54,000
October $ 44,000
November 39,000
December 64,000
Experience has shown that 30 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 5 percent are never collected.
Prepare a schedule of cash receipts for J. Los Clothiers covering the fourth quarter (October through December).

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