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# J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September \$ 55,000...

## Question

###### J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September \$ 55,000...

J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September \$ 55,000 (actual) Fourth Quarter October \$ 45,000 November 40,000 December 65,000 Experience has shown that 35 percent of sales are collected in the month of sale, 55 percent are collected 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). J. Lo's Clothiers September October November December Credit sales In month of sales One month after sales Total cash receipts

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