Take me to the text Hyde Catering Inc. is a caterer of corporate lunches and events. The following is Hyde's sales forecast by quarter for the upcoming year. Hyde Catering Inc. Forecasted Sales For the Year Ended December 31, 2020 Q1 Q2 Q3 04 Total Sales $121,000 $281,000 $345,000 $251,000 $998,000 In addition, sales in Q3 and Q4 of 2019 totaled $134,000 and $199,000 respectively. According to the company's sales records, all revenue is invoiced (ie. credit sales). Assume the following historical trends were noted by management regarding credit sales: 48% of credit customers pay during the quarter in which the sale took place 35% of credit customers pay in the quarter immediately following the quarter of sale 17% of credit customers pay in the second quarter following the quarter of sale Do not enter dollar signs or commas in the input boxes. Prepare a schedule of cash receipts on a quarterly basis. Hyde Catering Inc. Cash Receipts For the Year Ended December 31, 2020 Q1 Q3 2019 $ 04 2019 S Q1 2020 $ Q2 2020 03 Q2 Q3 04 Total Contact us! Q1 10 Q3 2019 $ Q4 2019 $ Q1 2020 Q2 2020 EA Q3 2020 Q4 2020 Total Hyde Catering Inc. Cash Receipts For the Year Ended December 31, 2020 Cash Receipts Q2 S 6A Q3 59 6 Q4 44 0 69 10 $ Total 10 6 FA 60 A Check Note: The "check" button does not submit your attempt.To submit the attempt, go to the end of the quiz and click on the "submit all and finish" button. Incorrect Marks for this submission: 0.00/23.00. Next page Contact us