Prepare a schedule of receipts from debtors for October, November, December Past experience shows that: 80% of debtors pay in the month following sale and receive a 5% discount 10% of debtors pay in the second month after the sale 8% of debtors pay in the third month after the sale 2% of debtors do not pay at all 1 i B I E Schedule of Receipts from Debtors Collections in: Month of Credit Sales Amount of Credit Sales October November December July $20,000 August $15,000 September $18,000 October $16,000