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20-21 Wells company reports the following

Music World reports the following sales forecast: August, $150.0W, September, $170000. Cash date of sale. Prepare a schedule of cash receipts for September P2 normally 40% of total sales and all credit sales are expected to be collected in the month followin The Guitar Shoppe reports the following sales forecast: August, $150,000, Sepiember, S110JNA Ca sales are normally 40% of total sales, 55% of credit sales are collected in the month i nowing sale inte remaining 5% of credit sales are written off as uncollectible. Prepare a schedule of cash receipts for September. Wells Company reports the following sales forecast: September, $35,000: October, $66,0%, and th November, $80,000. All sal the month of sale. 60% in the first month at credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November es are on account. Collections of credit sales are received as follows. 13% ter sale, and 10%, in the econd month atainenin unts P2 Lighthouse Company anticipates total sales for June and July of $420,000 and $398,000, respectively Cash sales are normally 60% of total sales Of the CTedit sales, 20 are collected in the same momhaste sale. 70% are collected duing the first month after the sale, and the remaining 10% are collected in the second month. Detennine the amount of accounts receivable reported on the company's budgeted bulan ted le sheet as of July 51 y is preparnb.ice) Eidget for Febnary. The company has S 20,000 cash at the begin. comnanY borrow during February to maintain a $5,000 cash bul- Messers Compan ine n f February and anticipates 575,000 in cash receipts and $100,250 in cash disbursements

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