Zen Den reports the following sales forecast: September, $25,000; October, $36,000; and November, $30,000. All sales are

Question:

Zen Den reports the following sales forecast: September, $25,000; October, $36,000; and November, $30,000. All sales are on account. Collections of credit sales are received as follows: 15% in the month of sale, 60% in the first month after sale, 20% in the second month after sale, and 5% is uncollectible. Prepare a schedule of cash receipts for November.