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

March	$42,000		June	$46,000
April	48,000		July	54,000
May	37,000		August	56,000

Sales in January and February were $45,000 and $44,000, 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.

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

Credit sales

in month of sale

one month after sale

two months after sale

total cash receipts