Schedule of Cash Collections of Accounts Receivable office World Inc. has "cash and carry customers and credit customers. Office World estimates that 25% 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 fotowing the month of sale. Projected sales for the next three months are as follows: $118,000 October November 148,000 December 216,000 The Accounts Recevable balance on September 30 was $79,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar, Office World Inc. Schedule of Collections from Sales For the Three Months Ending December 31 October November Receipts from cash sales: Cash sales 29,500 37,000 September sales on account: Collected in October 79,000 December 54,000 October sales on account: Collected in October 18,880 X Collected in November 75,520 X November sales on account: Collected in November 23,680 X 94,720 X Collected in December December sales on account: Collected in December 34,560 x Total cash receipts 127,380 X 136,200 X $ 183,280X