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Watt's Lighting Stores made the following sales projection for the next three months. All sales are credit sales. April........ 41,000 May..... 30.000 June....... 39.000 Sales

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Watt's Lighting Stores made the following sales projection for the next three months. All sales are credit sales. April........ 41,000 May..... 30.000 June....... 39.000 Sales in February were $37.000 and March $35,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare a monthly cash receipts schedule for the firm for April through June. Of the sales expected to be made during the three months from April through June, how much will still be uncollected at the end of June? How much of this is expected to be collected later

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