ved Help Save & E Submit Check my woch March $ 40,000 April $36, June 42.000 July 31,6 August May 50.00 10 points cBook Print eferences Sales in January and February were $39,000 and $38,000 respectively. Experience has shown that 10 percent of total sales are uncollectible, 25 percent are collected in the month of sale, 35 percent are collected in the following month, and 30 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August Ed's Waterbeds Cash Receipts Schedule January February Sales 5 Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier March $ $ 5 Total cash receipts 5 5 b. Of the sales expected to be made during the six months from March to August how much will still be uncollected at the end of August? How much of this is expected to be collected later? cted two months after sale Ordie, 35 percentare a. Prepare a monthly cash receipts schedule for the firm for March through August January 5 February 5 Cash Keceipts Schedule March $ April 5 Sales Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier Total cash receipts b. Of the sales expected to be made during the six months from March to August, how much will still be uncollected at the end of August? How much of this is expected to be collected later? Amount Uncollected Expected to be collected