Schedule of cash collections of accounts receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart 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 are as follows:

Month	Amount
October	$112,000
November	140,000
December	205,000

The Accounts Receivable balance on September 30 was $75,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Line Item Description	October	November	December
Receipts from cash sales:
Cash sales	$Cash sales	$Cash sales	$Cash sales
September sales on account:
Collected in October	Collected in October
October sales on account:
Collected in October	Collected in October
Collected in November		Collected in November
November sales on account:
Collected in November		Collected in November
Collected in December			Collected in December
December sales on account:
Collected in December			Collected in December
Total cash receipts	$Total cash receipts	$Total cash receipts	$Total cash receipts