Ochittree, Inc. shows a cash balance of $ 24,000 on January 1, 2007. Expected sales of model dune buggies by month for the first six months are:

Sales are collected 75 percent in the month of sale and 25 percent in the month following the sale. Actual sales by month for the last quarter are:
October .............................................................. $ 550,000
November ........................................................... 700,000
December ............................................................ 800,000
Ochittree sells dune buggies for $ 30 each.
Required
Use a spreadsheet package.
A. Determine the expected sales by month for the first three months of the year.
B. Determine the expected cash receipts by month for the first three months of the year.
C. Determine the anticipated accounts receivable balance by month for the first three months of the year.

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January February March $600,000 400,000 500,000 April May June $450,000 750,000 825,000