The Candy Shoppe reports the following sales forecast: August, $110,000; September, $120,000. Cash sales are normally 25%

Question:

The Candy Shoppe reports the following sales forecast: August, $110,000; September, $120,000. Cash sales are normally 25% 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.