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Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. Sales in January and Februafy were

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Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. Sales in January and Februafy 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

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