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Schedule indicating cash collections

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Reference no: EM131089965

Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1, 2016. Projected sales for each of the first three months of operations are as follows:

May                                         134000

June                                         155000

July                                           169000

All sales are on account. Sixty-five percent of sales are expected to be collected in SHOW ME HOW the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale.

Prepare a schedule indicating cash collections from sales of May, June, July

Reference no: EM131089965

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