Schedule of Cash Receipts: Simpson Glove Company has made the following sales projections for the next six months

Finance Oct 30, 2020

Schedule of Cash Receipts:

Simpson Glove Company has made the following

sales projections for the next six months. All sales are credit sales.

March $41,000

April 50,000

May 32,000

June 47,000

July 58,000

August 62,000

Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 40 percent are collected in the month of sale, 30 percent are collected in the following month, and 20 percent are collected two months after sale.

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

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