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Problem 4-19 Schedule of cash receipts (L04-2] Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March April May June July August $57,000 63,000 52,000 61,000 69,000 71,000 Sales in January and February were $60,000 and $59,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August. Watt's Lighting Stores Cash Receipts Schedule March April January February May June July August Check my world July August 69,000 71,000 Sales in January and February were $60,000 and $59,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August Watt's Lighting Stores Cash Receipts Schedule March April January February May June July August Credit sales In month of sale One month after sale Two months after sale Total cash receipts $ 0 $ 0 $ 0 $ 0 $ 0 $ 0

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