Schedule of Cash Collections of Accounts Receivable

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows:

August	$111,000
September	139,000
October	203,000

The Accounts Receivable balance on July 31, 2016, was $74,000.

Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar.

Office World Inc.
Schedule of Collections from Sales
For the Three Months Ending October 31, 2016
	August	September	October
Receipts from cash sales:
Cash sales	$____	$______	$_____
July sales on account:
Collected in August	_____
August sales on account:
Collected in August	______
Collected in September		_______
September sales on account:
Collected in September		_______
Collected in October			_______
October sales on account:
Collected in October			________
Total cash receipts	$______	$_______	$________