Schedule of cash collections of accounts receivable Pampered Pal Inc., a pet supplies distributor, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January February March $290,000 310,000 470,000 All sales are on account. Collections are expected as follows: 56% of sales are expected to be collected in the month of the sale, 40% in the month following the sale, and the remainder in the second month following the sale.