Watt’s Lighting Stores made the following sales projection for the next six months. All sales are...

Watt’s Lighting Stores made the following sales projection for the next six months. All sales are credit sales.


March	$44,000	June	$48,000
April	50,000	July	56,000
May	39,000	August	58,000

Sales in January and February were $47,000 and $46,000, respectively. Experience has shown that of total sales, 5 percent are uncollectible, 40 percent are collected in the month of sale, 50 percent are collected in the following month, and 5 percent are collected two months after sale.

a. Prepare a monthly cash receipts schedule for the firm for March through August.

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jeff jeffy answered 8 months ago

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