Part B?

Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales. $ 47,000 March April $ 43,000 June 49,000 July 55,000 May 38,000 August 57,000 Sales in January and February were $46,000 and $45.000 respectively Experience has shown that 10 percent of total sales are uncollectible, 35 percent are collected in the month of sale, 45 percent and collected in the following month, and 10 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August. Ed's Waterbeds Cash Receipts Schedule March January $ 46000 February $ 45000 April 49000 Sales $ 43000 Collections of current sales 15050 17150 Collections of prior month's sales. 20250 19350 Collections of sales 2 months earlier 4600 4500 Total cash receipts 39900 41000 b. Of the sales expected to be made during the six months from March to August, how much will still be uncollected at the end of August? How much of this is expected to be collected later? Amount Uncollected $ 76900 Expected to be collected. $ 46800 $ **** 3