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Problem 4 - 1 7 ( Algo ) Schedule of cash receipts [ LO 4 - 2 ] J . Lo's Clothiers has forecast credit

Problem 4-17(Algo) Schedule of cash receipts [LO4-2]
J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year:
Experience has shown that 30 percent of sales are collected in the month of sale, 65 percent are
collected in the following month, and 5 percent are never collected.
Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through
December).
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