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Yeopay Plumbing Supply accepts bank credit cards and offers established plumbers charge accounts with terms of leom, n/45. Yeopay's experience is that 25% of its

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Yeopay Plumbing Supply accepts bank credit cards and offers established plumbers charge accounts with terms of leom, 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 praccounts 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 seles forecasts: June $ 66,000 July 92,000 August 102,000 September 114,000 October 94,800 Required: 1a. Prepare a schedule of cash receipts for September. Cash receipts for September should total $99,753 1b. Prepare a schedule of cash receipts for October. Cash receipts for October should total $99,955 Req 1A Req 1B 0 0 Prepare a schedule of cash receipts for September. Cash receipts for September should total $99,753. (All percentage answers entered as whole numbers. If "Collection%" Is 100 percent for a particular period, leave the corresponding cell blank.) Budgeting Cash Receipts Cash Receipts for September Total Cash Sales Sales % Payment % Collection % Receipts % % $ % % % Collection of accounts receivable: % % % % % % Total cash receipts $ % 0 % 0 0 % 0 0 Het Reg 1B > Reg 1A Reg 1B 0 % Prepare a schedule of cash receipts for October. Cash recipts for October should total $99,955. (All percentage answers should be ente as whole numbers. If "Collection%" is 100 percent for a particular period, leave the corresponding cell blank.) Budgeting Cash Receipts Cash Total Cash Receipts for October Sales Payment % Sales Collection % Receipts % $ % % % 0 Collection of accounts receivable % 0 % 0 % % % Total cash receipts $ 0 % % % 0 % % 0

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