Terry Clothiers has forecast credit sales for the fourth quarter of the year as: $60,000 September (actual) Fourth Quarter October November December 70,000 55,000 80,000 Experience has shown that 40 percent of sales are collected in the month of sale and 60 percent in the following month. Prepare a schedule of cash receipts for Terry Clothiers covering the fourth quarter (October through December). September October November December Credit sales 40% collected in month of sales 60% collected in month after sales Total cash receipts