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J . Lo's Clothiers has forecast credit sales for the fourth quarter of the year: Experience has shown that 2 5 percent of sales are

J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year:
Experience has shown that 25 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and
10 percent are never collected.
Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December).
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