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Prepare cash receipts schedule for Power Ridge Corporation

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Reference no: EM132877579

Question - Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows:

September (actual) $65,000

Fourth Quarter October $55,000

November 50,000

December 75,000

Experience has shown 25 percent of sales are collected in the month of sale, 55 percent are collected in the following month, and 20 percent are never collected.

Required - Prepare cash receipts schedule for Power Ridge Corporation covering the fourth quarter (October through December).

Reference no: EM132877579

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