Eaton Stores has forecast credit sales for the fourth quarter of the year as: 

Fourth Quarter

September (actual) ........................  $100,000

October ..........................................  $ 70,000

November ......................................  50,000

December ......................................  80,000

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

Answer rating: 100% (QA)

Cash receipt October 30 sales oct 30 70000 21000 Nove... View the full answer