Schedule of Cash Collections of Accounts Receivable

Bark & Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows:

May	$390,000
June	460,000
July	690,000

All sales are on account. 59 percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale.

Prepare a schedule indicating cash collections from sales for May, June, and July.

Schedule of Cash Collections of Accounts Receivable Bark \& Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: All sales are on account. 59 percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July