Yeopay Plumbing Supply accepts bank credit cards and offers established plumbers charge accounts with terms of 1/eom, n/45. Yeopay's experience is that 25% of its sales are for cash and bank credit cards. The remaining 75% are on credit. Of the cash sales, 40% pay cash and the remaining 60% pay with bank credit cards. Yeopay receives payments from the bank on credit card sales at the end of the day. However, Yeopay has to pay 3% for these services. An aging schedule for accounts receivable shows the following pattern on credit sales:

20%pay in the month of sale.50%pay in the first month following the month of sale.15%pay in the second month following the month of sale.12%pay in the third month following the month of sale.3%are never collected.

All accounts not paid by the end of the second month following the month of sale are considered overdue and are subject to a 5% monthly late charge. Yeopay has prepared the following sales forecasts:

June$66,000July92,000August102,000September114,000October94,000

Required:

1a. Prepare schedule of cash receipts for September.Cash receipts for September should total $99,753.

1b. Prepare schedule of cash re