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 are as follows: October $124,000 November 155,000 227,000 December The Accounts Receivable balance on September 30 was $83,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. December Office World Inc. Schedule of Collections from Sales For the Three Months Ending December 31 October November Receipts from cash sales: Cash sales $ 24,800 $ 31,000 $ September sales on account: Collected in October 83,000 October sales on account: Collected in October 31,000 45,400 74,400 X Collected in November November sales on account: Collected in November 31,000 X 93,000 X Collected in December December sales on account: Collected in December Total cash receipts $ 132,600 x $