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: Fourth Quarter September (actual) October November December Credit sales Collections: Experience has shown that 25 percent of sales are collected in the month of sale, 60 percent are collected in the following month, and 15 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). In month of sales One month after sales $ 53,000 $ 43,000 Total cash receipts 38,000 63,000 J.Lo's Clothiers September $ October November 0 $ December 0 $ 0 4