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

March $42,000 June $48,000

April 51,000 July 59,000

May 33,000 August 63,000

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.

Credit sales	January	February	March	April	May	June	July	August
In Month of sales
One Month after sales
Two month after sales
Total cash receipts