Watt’s Lighting Stores made the following sales projection for the next six months. All sales are...

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Watt’s Lighting Stores made the following sales projection forthe next six months. All sales are credit sales.
March $44,000 June $48,000
April 50,000 July 56,000
May 39,000 August 58,000

Sales in January and February were $47,000 and $46,000,respectively. Experience has shown that of total sales, 5 percentare uncollectible, 40 percent are collected in the month of sale,50 percent are collected in the following month, and 5 percent arecollected two months after sale.
a. Prepare a monthly cash receipts schedule forthe firm for March through August.

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Watt’s Lighting Stores made the following sales projection forthe next six months. All sales are credit sales.March$44,000June$48,000April50,000July56,000May39,000August58,000Sales in January and February were $47,000 and $46,000,respectively. Experience has shown that of total sales, 5 percentare uncollectible, 40 percent are collected in the month of sale,50 percent are collected in the following month, and 5 percent arecollected two months after sale.a. Prepare a monthly cash receipts schedule forthe firm for March through August.


March	$44,000	June	$48,000
April	50,000	July	56,000
May	39,000	August	58,000