Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales.

March	$47,000		June	$53,000
April	56,000		July	64,000
May	38,000		August	68,000

Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 35 percent are collected in the month of sale, 25 percent are collected in the following month, and 30 percent are collected two months after sale.

Prepare a monthly cash receipts schedule for the firm for March through August.

Simpson Glove Company Cash Receipts Schedule
	January	February	March	April	May	June	July	August
Sales	$	$	$	$	$	$	$	$
Collections of current sales
Collections of prior months sales
Collections of sales 2 months earlier
Total cash receipts			$	$	$	$	$	$