Required:

Prepare a schedule of cash collections.

Prepare a schedule of cash payments.

payments. Sates collected in 208 Cash Sates cottected on Credit of Credit Sates collected in the month of sale of Credit Sates collected in the following month of Credit Sates collected two months after the month of IE8-2 Preparing a Schedule of Cash Receipts and Cash Payments Blanchet, Incorporated needs to budget for cash in its upcoming quarter. Below is historical information about cash collections and 74, 85 , 61, e 62 , 82 , 48, 60, 29, 6, uncollectable 8 of Accounts Payable paid in the month of purchase of Accounts Payable paid in the following month Projected Sales and Purchases are below. sale c 458 58 708 308 Month Janua ry February March April May June July Sates 95 , 15, 56 , 7, Purchases 28 , 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Blanchet, Incorporated needs to budget for cash in its upcoming quarter. Below is historical information about cash collections and payments. Sales collected in Cash Sales collected on Credit % of Credit Sales collected in the month of sale % of Credit Sales collected in the following month sale % uncollectable % of Accounts Payable paid in the month of purchase % of Accounts P able aid in the followin month Projected Sales and Purchases are below. 20% 45% 5% January February Sales 95,000 85,000 a Graded Worksheet Workbook Statistics Month January February March April May June Ju Required: Sales 95,000 85,000 62,000 105,000 48,000 56,000 70 ooo Purchases 74,000 61,000 c Purchases 74,000 61,000 28,000 82,000 60,000 29,000 60 ooo Prepare a schedule of cash collections. Prepare a schedule of cash payments. Schedule of Cash Collecons February March April May June Total a Graded Worksheet Workbook Statistics c May June Total Receivable Balance June 30 June ments Total Total March April May June Total ab Balanc Schedule of Cash n