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Mountaineers expects total sales of $701,500 for January and $352,000 for February. November sales totaled $388,000 Now assume that Mountaineers's sales are collected as follows: and December sales were $398,000. 40% in the month of the sale The following schedule of cash receipts for January and February was prepared based upon the collection history given: 30% in the month after the sale i (Click the icon to view the collection history.) 27% two months after the sale (Click the icon to view the schedule of cash receipts.) 3% never collected Prepare a revised schedule of cash receipts for January and February. (If a box is not used in the table leave the box empty; do not enter a zero.) i Reference - X Cash Receipts from Customers January February i More Info Total sales Cash Receipts from Customers January February January February 50% in the month of the sale Cash Receipts from Customers: Total sales $ 701,500 $ 352,000 40% in the month after the sale Nov.-Credit sales, collection of Nov. sales in Jan. 8% two months after the sale Dec.-Credit sales, collection of Dec. sales in Jan. January February 2% never collected Dec.-Credit sales, collection of Dec. sales in Feb. Cash Receipts from Customers: Jan.-Credit sales, collection of Jan. sales in Jan. Nov.-Credit sales, collection of Nov. sales in Jan. $ 31,040 Print Done Jan.-Credit sales, collection of Jan. sales in Feb. Dec.-Credit sales, collection of Dec. sales in Jan. 159,200 $ 31,840 Feb.-Credit sales, collection of Feb. sales in Feb. Dec.-Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. 350,750 Total cash receipts from customers Jan.-Credit sales, collection of Jan. sales in Feb. 280,600 Feb.-Credit sales, collection of Feb. sales in Feb. 176,000 Total cash receipts from customers $ 540,990 $ 488,440 Print Done