Prepare the schedule of cash receipts:

Information:

First SecondThird Fourth Quarter Quarter QuarterQuarter Total Cash Receipts from Customers: Accounts Receivable balance, December 31, 2016 1st Qtr.-Cash sales 1st Qtr.-Credit sales, collection of Qtr. 1 sales in Qtr. 1 1st Qtr.-Credit sales, collection of Qtr. 1 sales in Qtr. 2 2nd Qtr.-Cash sales 2nd Qtr-Credit sales, collection of Qtr. 2 sales in Qtr. 2 2nd Qtr.-Credit sales, collection of Qtr. 2 sales in Qtr. 3 $ 30,000 11,200 70,560