1- Eastern Auto Parts Inc. has 25 percent of its sales paid for in cash...
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Accounting
1- Eastern Auto Parts Inc. has 25 percent of its sales paid for in cash and 75 percent on credit. All credit accounts are collected in the following month.
Assume the following sales:
| January | $ | 67,000 |
| February | 57,000 | |
| March | 102,000 | |
| April | 47,000 | |
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Sales in December of the prior year were $77,000. Prepare a cash receipts schedule for January through April.
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