Schedule of Cash Collections of Accounts Receivable

Schedule of Cash Collections of Accounts Receivable: Ofice Mart Inc hes "cash and carry" customers and credt customers: OfficeMart evimates that 25% of monthly sales are to cash cantomers, while the remaining sale are to credi customers: Of the condit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: The Accounts Aecewaule balance on September 70 was $34,000. The Accounts Receivable balance on September 30 was $84,000. Prepare a schedule of cash collections from sales for October, November, and Oecember. Round all calculations to the nearest whole dollar