Prepare the cash collection schedule

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Reference no: EM13748909

Shown below is the sales forecast for ABC Company:

May - $110,000 June - $130,000 July – $120,000 August - $150,000 September - $100,000

75% of sales are on account. 50% of credit sales are paid for in the month of the sale, 30% in the month following sale, and 20% are paid two months after the month of the sale. Prepare the cash collection schedule for July through September including a total column for the quarter.

Reference no: EM13748909

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