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Katy Lou is a retailer of scrapbooking products. The sales forecast for the coming months is: Revenues: April (actual) $250,000 May (actual) $275,000 June $300,000

Katy Lou is a retailer of scrapbooking products. The sales forecast for the coming months is:

Revenues:

April (actual) $250,000

May (actual) $275,000

June $300,000

July $350,000

august $350,000 Katy Lou's sales are 30% cash and 70% credit. The collection pattern is 60% in the month of sale, 35% the following month and the remainder in the second month following the sale.

Required

Prepare a cash receipts schedule for the period June - August (by month).

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