Schedule of Cash Collections of Accounts Receivable

Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows:

January	$330,000
February	380,000
March	500,000

All sales are on account. 52% of sales are expected to be collected in the month of the sale, 43% in the month following the sale, and the remainder in the second month following the sale.

create a schedule indicating cash collections from sales for January, February, and March.

	January	February	March
January sales on account:
Collected in January	$fill in the blank 1
Collected in February		$fill in the blank 2
Collected in March			$fill in the blank 3
February sales on account:
Collected in February		fill in the blank 4
Collected in March			fill in the blank 5
March sales on account:
Collected in March			fill in the blank 6
Total cash collected	$fill in the blank 7	$fill in the blank 8	$fill in the blank 9