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:

All sales are on account. $60\%$ of sales are expected to be collected in the month of the sale, $36\%$ 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.

Pet Supplies Inc.

Schedule of Cash Collections from Sales

For the Three Months Ending March $31$