Watts Lighting Stores made the following sales projection for the next six months. All sales are credit sales.

March	$53,000		June	$57,000
April	59,000		July	65,000
May	48,000		August	67,000

Sales in January and February were $56,000 and $55,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 35 percent are collected in the month of sale, 45 percent are collected in the following month, and 10 percent are collected two months after sale.

a. Prepare a monthly cash receipts schedule for the firm for March through August.

Watt's Lighting Stores Cash Receipts Schedule January February March June July August Credit sales In month of sale One month after Two months after Total cash receipts