Schedule of Cash Collections of Accounts Receivable Office World Inc. has "'35\" and carry" customers and credit customers. Ofce World estimates that 20% 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 $134,000 September 168,000 October 245,000 The Accounts Receivable balance on July 31, 2016, was $90,000. Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar. Ofce World Inc. Schedule of Collections from Sales , For the Three Months Ending October 31, 2016 ' August September October Receipts from cash sales: July sales on account: Collected in August E:] August sales on account: Collected in August [::] Collected in September ' September sales on account: Collected in September [:] Collected in October October sales on account: [:1 Collected in October C] Total cash receipts C 5:} D