Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 30% 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 $121,000 November 151,000 221,000 December The Accounts Receivable balance on September 30 was $81,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. December $ 66.300 OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November Receipts from cash sales: Cash sales 36,300 $ 45,300 September sales on account: Collected in October 81,000 October sales on account: Collected in October 21,175 Collected in November November sales on account: Collected in November 2:09 PM eBook Calculator Prepare a schedule of cash collections from sales for October, November, and December. Round all December $ 66,300 OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November Receipts from cash sales: Cash sales $ 36,300 $ 45,300 September sales on account: Collected in October 81,000 October sales on account: Collected in October | 21,175 Collected in November 68,062 November sales on account: Collected in November Collected in December December sales on account: Collected in December Total cash receipts Feedback Check My Work of the sales on account, note the percentages of the total that are expected to be collected in the month of months. eBook Calculator Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $28,900. The budgeted expenses for the next three months are as follows: January February March Salaries $66,500 $80,900 Utilities 5,500 6.100 $89,600 7,200 61,400 $158,200 Other operating expenses 51,200 55,800 Total $123,200 $142,800 Other operating expenses include $3,600 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 80% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February Payments of prior month's expense March Payments of current month's expense Total cash payments