OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the...



OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 30% pay their accounts in the month of sale, while the remaining 70% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

















October$58,000
November65,000
December72,000

The Accounts Receivable balance on September 30 was $35,000.




Prepare a schedule of cash collections from sales for October, November, and December. Enter all amounts as positive numbers.



OfficeMart Inc.Schedule of Cash Collections from SalesFor the Three Months Ending December 31

























































































OctoberNovemberDecember
Receipts from cash sales:
Cash sales$fill in the blank 1$fill in the blank 2$fill in the blank 3
September sales on account:
Collected in Octoberfill in the blank 4
October sales on account:
Collected in Octoberfill in the blank 5
Collected in Novemberfill in the blank 6
November sales on account:
Collected in Novemberfill in the blank 7
Collected in Decemberfill in the blank 8
December sales on account:
Collected in Decemberfill in the blank 9
Total cash collected$fill in the blank 10$fill in the blank 11$fill in the blank 12


Jun 03, 2022
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