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Prepare the schedule of expected cash collection using the below for the second quarter (July, August and September): 1. A/R at the end of June
Prepare the schedule of expected cash collection using the below for the second quarter (July, August and September): 1. A/R at the end of June = $ 136,000 2. Estimated sales for July, August, September, and October will be $210,000, $230,000, $220,000, and $240,000, respectively. 3. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July
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