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Schedule of Cash Collections of Accounts Receivable Office World Inc. has cash and carry customers and credit customers. Office World estimates that 30% of
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, 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 September October $114,000 143,000 209,000 The Accounts Receivable balance on July 31, 2016, was $76,000. Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar,
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