Jekell Catering Inc. is a caterer of corporate lunches and events. The following is Jekell's sales forecast by quarter for the upcoming year.

Jekell Catering Inc.

Forecasted Sales

For the Year Ended December 31, 2020

Q1 Q2 Q3 Q4 Total

Sales $111,000 $290,000 $358,000 $251,000 $1,010,000

In addition, sales in Q3 and Q4 of 2019 totaled $132,000 and $212,000 respectively. According to the company's sales records, all revenue is invoiced (i.e. credit sales). Assume the following historical trends were noted by management regarding credit sales:

52% of credit customers pay during the quarter in which the sale took place

28% of credit customers pay in the quarter immediately following the quarter of sale

20% of credit customers pay in the second quarter following the quarter of sale

Do not enter dollar signs or commas in the input boxes.

Prepare a schedule of cash receipts on a quarterly basis.

Jekell Catering Inc.

Cash Receipts

For the Year Ended December 31, 2020

Q1 Q2 Q3 Q4 Total

Q3 2019 $Answer

$Answer

Q4 2019 $Answer

$Answer

$Answer

Q1 2020 $Answer

$Answer

$Answer

$Answer

Q2 2020 $Answer

$Answer

$Answer

$Answer

Q3 2020 $Answer

$Answer

$Answer

Q4 2020 $Answer

$Answer

Total Cash Receipts $Answer

$Answer

$Answer

$Answer

$Answer