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    Timber's Lodge Shop Cash Receipts Forecast

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    Prepare a schedule of cash receipts for my business covering the fourth quarter (October through December).

    Timber's Lodge shop has forecast credit sales for the 4th quarter:

    September (actual sales)---- $50,000
    Fourth quarter
    October $40,000
    November $35,000
    December $60,000

    Experience has shown that 25% of sales are collected in the month of sales. 70% in the following month and 5 percent are never collected.

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    Solution Summary

    This solution prepares a schedule of cash receipts in an Excel file from October through December of Timber's Lodge Shop.