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Schedule of cash collections of accounts receivable Pampered Pal Inc., a pet supplies distributor, was organized on January 1 . Projected sales for each of
Schedule of cash collections of accounts receivable
Pampered Pal Inc., a pet supplies distributor, was organized on January Projected sales for each of the first three months of operations are as follows:
All sales are on account. Collections are expected as follows: of sales are expected to be collected in the month of the sale, in the month following the sale, and the remainder in the second
month following the sale.
Prepare a schedule indicating cash collections from sales for January, February, and March.
Pampered Pal Inc.
Schedule of Cash Collections from Sales
For the Three Months Ending March
February sales on account:
Collected in February
Collected in March
March sales on account:
Collected in March
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