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J. Los Clothiers has forecast credit sales for the fourth quarter of the year: September (actual) $ 60,000 Fourth Quarter October $ 50,000 November 45,000

J. Los Clothiers has forecast credit sales for the fourth quarter of the year:

September (actual) $ 60,000
Fourth Quarter
October $ 50,000
November 45,000
December 70,000

Experience has shown that 30 percent of sales are collected in the month of sale, 55 percent are collected in the following month, and 15 percent are never collected.

Prepare a schedule of cash receipts for J. Los Clothiers covering the fourth quarter (October through December).

J. Los Clothiers
September October November December
Credit sales $60,000 $50,000 $45,000 $70,000
In month of sales
One month after sales
Total cash receipts

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