Schedule of Cash Collections of Accounts Receivable officeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% 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: October $127,000 November December 159,000 232,000 | The Accounts Receivable balance on September 30 was $85,000 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 December Receipts from cash sales Cash sales September sales on account Collected in October October sales on accounts Collected in October Collected in November November sales on account Collected in November Collected in December December sales on account Collected in December I DO Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each the first three months of operations are as follows: March $141.500 April 133,000 May 121,000 Depreciation, insurance, and property taxes represent $30,000 of the estimated monthly expenses. The annual Insurance premium was paid on February 28, and property taxes for the year will be paid in June 69% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month Prepare a schedule of cash payments for selling and administrative expenses for March, April and Mary Excel Learning Systems Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses Paid in March Paid in April Art expenses Paid in April Paid in May May expenses Paid in May Total cash payments