mentSessionLocator=&inprogress=false eBook Show Me How Print them Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $230,000 February 300,000 March 400,000 All sales are on account. 57% of sales are expected to be collected in the month of the sale, 38% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March. Pet Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending March 31 January February March January sales on account: Collected in January Collected in February Collected in March February sales on accounts Collected in February Collected in March March sales on account: Check My Work Previous Next) eBook Show Me How Printem Cash Budget Pasadena Candle Inc. pays 40% of its purchases on account in the month of the purchase and 60% in the month following the purchase. If purchases are budgeted to be $40,000 for August and $36,000 for September Prepare a simple cash budget for Pasadena Candle Inc. Pasadena Candle Inc. Schedule of Cash Payments for Purchases For the Month Ending September Payments for August purchases Payments for September purchases Total payments for purchases on account Feedback Check My Wor The primary source of estimated cash receipts is from cash and collections on account To estimate cash receiptstromcash sales and collections on account, a schedule of collediondom sales is prepared Lowing Objective 5 Check My Won