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, 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 $ 128,000 November 160,000 December 234,000 The Accounts Receivable balance on September 30 was $86,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November Receipts from cash sales: Cash sales 25,600 32,000 December 46,800 September sales on account: Collected in October o Rectangular Snip October sales on account: Collected in October 20,480 Collected in November 81,920 November sales on account: Collected in November 25,600 Collected in December 102,400 December sales on account: Collected in December 37,440 Total cash receipts 139,520 186,640