Schedule of Cash Collections of Accounts Receivable

Furry Friends 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	$190,000
June	250,000
July	330,000

All sales are on account. 54 percent of sales are expected to be collected in the month of the sale, 36% 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.

Upgrade to macOS High Sierra Enjoy the latest technologies and retinements to your favorite apps Install 22-3 Excercises & Problems Show Me How Calculator Details Learning Objective 5 Schedule of Cash Collections of Accounts Receivable Furry Friends 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 une uly All sales are on account. 54 percent of sales are expected to be collected in the month of the sale, 36% 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. $190,000 250,000 330,000 Furry Friends Supplies Inc. Schedule of Collections from Sales For the Three Months Endi 31 May June July May sales on account Collected in May Colected in June Collected in July June sales on account: Collected in June Collected in July uly sales on account: Collected in July Total cash collected Check My Work 2 more Check My Work uses remaining. Previous Next Assignment Score: 55.86% Email Instructor Save and Exit Submit Assignment for Grading