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    Schedule of Cash Receipts

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    Victoria's Apparel has forecast credit sales for the fourth quarter of the year as:
    September (actual) . . . . . . . . . . $50,000
    Fourth Quarter
    October . . . . . . . . . . . . . . . . . . . $40,000
    November . . . . . . . . . . . . . . . . . 35,000
    December . . . . . . . . . . . . . . . . . 60,000
    Experience has shown that 20 percent of sales are collected in the month of sale, 70 percent in the following month, and 10 percent are never collected.
    Prepare a schedule of cash receipts for Victoria's Apparel covering the fourth quarter (October through December).

    © BrainMass Inc. brainmass.com June 3, 2020, 6:13 pm ad1c9bdddf
    https://brainmass.com/business/cash/schedule-cash-receipts-52007

    Solution Preview

    In reparing a cash receipts schedule, we need to breakdown by the month the collection from the sales. ...

    Solution Summary

    The solution explains how to prepare a schedule of cash receipts for Victoria Apparel.

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