Make a schedule of cash receipts for usa apparel

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Reference no: EM132288843

USA Apparel has forecast credit sales for the fourth quarter of the year as:

September (actual) $50,000

October (estimate) 40,000

November (estimate) 35,000

December (estimate) 60,000

Experience has shown that 20 percent of sales receipts are collected in the month of sale, 70 percent in the following month, and 10 percent are never collected.

Make a schedule of cash receipts for USA Apparel covering the fourth quarter (October through December). For each of those three months, calculate the amount of cash the company expects to COLLECT from customers.

Reference no: EM132288843

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