Schedule of Cash Collections of Accounts Receivable

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2014 are as follows:

August	$135,000
September	169,000
October	247,000

The Accounts Receivable balance on July 31, 2014, was $90,000.

Hide Prepare a schedule of cash collections from sales for August, September, and October. Office World Inc. Schedule of Collections from Sales For the Three Months Ending October 31, 2014 August September October Receipts from cash sales: Cash sales $ $ $ July sales on account: Collected in August August sales on account: Collected in August Collected in September September sales on account: Collected in September Collected in October October sales on account: Collected in October Total cash receipts $ $ $