4 Suved Help Save & Exit Submit Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales March April Hay 54 de June 43,000 July 37,000 August $ 46,000 54,000 56,000 Sales in January and February were $45,000 and $44.000 respectively Experience has shown that 10 percent of total sales are uncollectible 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale a. Prepare a monthly cash receipts schedule for the firm for March through August Ed's Waterbed's Cash Receipts Schedule February March April Sales 545000 544000 $ 42000 $ 48000 Collections of current sites 4400 Collections of prior months sales Collection of sales 2 months are Totalci recepts $ 37000 100 12500 Experience has shown that 10 percent of total sales are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August January 45000 Sales Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier Ed's Waterbeds Cash Receipts Schedule February March 5 44000 $ 42000 12600 April $ 48000 14400 May $ 37000 11100 Total cash receipts 5 b. Of the sales expected to be made during the six months from March to August, how much will still be uncollected at the end of August? How much of this is expected to be collected later? Uncollected Expected to be collected