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Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. March $ 5 4 , 0

Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales.
March $ 54,000
April 63,000
May 45,000
June 60,000
July 71,000
August 75,000
Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 45 percent are collected in the month of sale, 35 percent are collected in the following month, and 10 percent are collected two months after sale.
Prepare a monthly cash receipts schedule for the firm for March through August.

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