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    Cash Receipt Schedule

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    J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year as:

    September (actual) . . . . . . . . . . . . . $70,000
    Fourth Quarter
    October . . . . . . . . . . . . . . . . . . . . . . $60,000
    November . . . . . . . . . . . . . . . . . . . . 55,000
    December . . . . . . . . . . . . . . . . . . . . 80,000

    Experience has shown that 30 percent of sales are collected in the month of sale,
    60 percent in the following month, and 10 percent are never collected.
    Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth
    quarter (October through December).

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    https://brainmass.com/business/cash/cash-receipt-schedule-483542

    Solution Summary

    The solution prepares the Cash Receipt Schedule for J. Lo Clothiers.

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