Do a schedule of cash receipts for the company

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Reference no: EM132707229

ABC Co. has forecast credit sales for the fourth quarter of the year:

Experience has shown that 15 percent of sales are collected in the month of sale, 80 percent are collected in the following month, and 5 percent are never collected.

Problem 1: Do a schedule of cash receipts for the company covering the fourth quarter (October through December).

September Actual $70,000

Fourth quarter

October $60,000

November $55,000

December $80,00

Reference no: EM132707229

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