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J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year as: September (actual) 67,000 Fourth Quarter October November December 57,000 52,000
J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year as: September (actual) 67,000 Fourth Quarter October November December 57,000 52,000 77,000 Experience has shown that 35 percent of sales are collected in the month of sale, 60 percent in the following month, and 5 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). J. Lo's Clothiers September October November December Credit sales In month of sales One month after sales Total cash receipts " "
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