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Starbucks Corp. has forecast credit sales for the fourth quarter of the year: September (actual) $55,500 Fourth Quarter October November December $70,000 85,000 60.200 Experience
Starbucks Corp. has forecast credit sales for the fourth quarter of the year:
September (actual) $55,500
Fourth Quarter
October
November
December
$70,000
85,000
60.200
Experience has shown that 30 percent of sales are collected in the month of sales and 70 percent in the following month.
Prepare a schedule of cash receipts for Starbucks Corp. covering the fourth quarter (October through December).
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