The Candle Shoppe reports the following sales forecast: August, $ 150,000; September, $ 170,000. Cash sales are

Question:

The Candle Shoppe reports the following sales forecast: August, $ 150,000; September, $ 170,000. Cash sales are normally 40% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September.