Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales March April May June July August $40,000 49,000 31,000 46,000 57,000 61,000 Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 5 p are uncollectible, 50 percent are collected in the month of sale, 40 percent are collected in the following month, and 5 percer collected two months after sale. ces Prepare a monthly cash receipts schedule for the firm for March through August. Simpson Glove Company Cash Receipts Schedule March April June January May July February (2 ere to search o Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 5 percent are uncollectible, 50 percent are collected in the month of sale, 40 percent are collected in the following month, and 5 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 March April June January May February Aug July Credit sales In month of sale One month after sale Two months after sale Total cash receipts e here to search