Excel Learning Systems Inc. was organized on September 30, 2016. Projected selling and administrative expenses for each of the first three months of operations are as follows:

October	$167,500
November	155,800
December	141,800

Depreciation, insurance, and property taxes represent $35,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and property taxes for the year will be paid in June. The company expects that 73% of the remainder of the expenses will be paid in the month in which they are incurred, with the balance to be paid in the following month.

Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December.

Excel Learning Systems Inc.
Schedule of Cash Payments for Selling and Administrative Expenses
For the Three Months Ending December 31, 2016
	October	November	December
October expenses:
Paid in October	$
Paid in November		$
November expenses:
Paid in November
Paid in December			$
December expenses:
Paid in December
Total cash payments	$	$	$

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows:

August	$127,000
September	159,000
October	232,000

The Accounts Receivable balance on July 31, 2016, was $85,000.

Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar.

Office World Inc.
Schedule of Collections from Sales
For the Three Months Ending October 31, 2016
	August	September	October
Receipts from cash sales:
Cash sales	$	$	$
July sales on account:
Collected in August
August sales on account:
Collected in August
Collected in September
September sales on account:
Collected in September
Collected in October
October sales on account:
Collected in October
Total cash receipts	$	$	$