Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows: August $129,000 161,000 September October 236,000 The Accounts Receivable balance on July 31, 2016, was $86,000 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 September 0ctober August 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