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eBook Calculator Print Item Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry customers and credit customers. OfficeMart estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers, or the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October November $117,000 146,000 214,000 December The Accounts Receivable balance on September 30 was $78,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November December Receipts from cash sales Cash sales 23,400 $ 29,200 $ 2,800 September sales on account: Collected in October 78.000 October sales on account: Collected in October 23.400 74,880 x Collected in November November sales on account: Collected in November 29,200 Check My Work 1 more Check My Work uses remaining Activate Previous Got Settimestone Wind All works ved Save and Exit Submit Assienment for Gradi December $ 42,800 For the Three Months Ending December 31 October November ceipts from cash sales: ash sales $ 23,400 29,200 ptember sales on account: Collected in October 78,000 ctober sales on account: Collected in October 23.400 74,880 Collected in November ovember sales on account: Collected in November 29,200 93.440 Collected in December ecember sales on account: Collected in December 42.800 otal cash receipts 124,800 $152,000 X 179,040 Feedback Check My Work of the sales on account, note the percentages of the total that are expected to be collected in the month of the sale and in each of the next two months Learning Objective 5 eck My Work 1 more Check My Work uses remaining Activate Prev Go to Settings to All work enved Save and Exit Submit Assignmen