Schedule of Cash ReceiptsDel Spencer is the owner and founder of Del Spencer's Men'sClothing...Schedule...

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Accounting

Schedule of Cash Receipts
Del Spencer is the owner and founder of Del Spencer's Men'sClothing Store. Del Spencer's has its own house charge accounts andhas found from past experience that 10 percent of its sales are forcash. The remaining 90 percent are on credit. An aging schedule foraccounts receivable reveals the following pattern:
15 percent of credit sales are paid in the month of sale.
65 percent of credit sales are paid in the first month followingthe sale.
14 percent of credit sales are paid in the second month followingthe sale.
6 percent of credit sales are never collected.
Credit sales that have not been paid until the second monthfollowing the sale are considered overdue and are subject to a 3percent late charge.
Del Spencer's has developed the following sales forecast:
May $60,000
June 55,000
July 45,000
August 56,000
September 82,000
Required:
Prepare a schedule of cash receipts for August and September.Round all amounts to the nearest dollar.
Del Spencer's Men's Clothing Store
Schedule of Cash Receipts
For the Months of August and September
August September
Cash sales $ $
Received from sales in:
June:
July:
August:
September:
Total cash receipts $ $

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Del Spencer's Men's Clothing Store
Schedule of Cash Receipts
For the Months of August and September
	August	September
Cash sales	$ 5,600.00	$ 8,200.00
Received from sales in:
June:	$ 6,930.00
July:	$ 26,325.00	$ 5,670.00

August:	$ 7,560.00	$ 32,760.00

September:		$ 11,070.00
Total cash receipts	$ 46,415.00	$ 57,700.00

Working

	May	June	July	August	September
Sales	$ 60,000.00	$ 55,000.00	$ 45,000.00	$ 56,000.00	$ 82,000.00
Cash sales	$ 6,000.00	$ 5,500.00	$ 4,500.00	$ 5,600.00	$ 8,200.00
Credit sales	$ 54,000.00	$ 49,500.00	$ 40,500.00	$ 50,400.00	$ 73,800.00

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In: AccountingSchedule of Cash ReceiptsDel Spencer is the owner and founder of Del Spencer's Men'sClothing...Schedule of Cash ReceiptsDel Spencer is the owner and founder of Del Spencer's Men'sClothing Store. Del Spencer's has its own house charge accounts andhas found from past experience that 10 percent of its sales are forcash. The remaining 90 percent are on credit. An aging schedule foraccounts receivable reveals the following pattern:15 percent of credit sales are paid in the month of sale.65 percent of credit sales are paid in the first month followingthe sale.14 percent of credit sales are paid in the second month followingthe sale.6 percent of credit sales are never collected.Credit sales that have not been paid until the second monthfollowing the sale are considered overdue and are subject to a 3percent late charge.Del Spencer's has developed the following sales forecast:May$60,000June55,000July45,000August56,000September82,000Required:Prepare a schedule of cash receipts for August and September.Round all amounts to the nearest dollar.Del Spencer's Men's Clothing StoreSchedule of Cash ReceiptsFor the Months of August and SeptemberAugustSeptemberCash sales$$Received from sales in:June:July:August:September:Total cash receipts$$