I am not understanding how to break these figures down quarterly. The examples in the textbook are done by quarters byt he assignment is asking for monthly figures:
Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.
Prepare a schedule of cash collections for July through September.
The solution assists in preparing a schedule of cash collections.