Simpson Glove Company has made the following sales projections for the next six months. All sales we credit sales March el May 560,000 1.000 July 51,000 560,000 77,000 1,000 Sales in January and February were $11.000 and $39.000, respectively. Experiences shown that of total sales receipts 5 percent are uncollectible, 50 percent we collected in the month of sale, 40 percent are collected in the following month, and percent collected two months after sale Prepare a monthly cash receipts schedule for the firm for March through August Spor Glove Cashewt Schedule ry rary Harch Sale 5 5 Collection of current sales Collections of prior anth's Collection of sms 2 north apier Total cash receipts Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales March April May $68,000 June 69,000 July 51,000 August $66,000 77,000 B1,000 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 percentare collected two months after sale. Prepare a monthly cash receipts schedule for the firm for March through August Prepare a monthly cash receipts schedule for the firm for March through August Sales Collection or current Collection of north sales Collection of sales sont wer Total cash receipt