Pirate Video Company has made the following sales projections for the next six months. All sales are credit sales. March $24,000 April 30,000 May 18,000 June $28,000 July 35,000

August 38,000 Sales in January and February were $27,000 and $26,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after the sale. Prepare a monthly cash receipts schedule for the firm for March through August. Of the sales expected to be made during the six months from March through August, how much will still be uncollected at the end of August? How much of this is expected to be collected later?

Please do not copy it from Chegg or I have to report, provide step by step solution.