DeBerg Company has the following sales projections for its second and third quarters:

April $100,000
May $120,000
June $140,000
July $160,000
August $150,000
September $130,000

Normal cash collection experience has been that 50% of sales are collected during the month of sale, 30% in the month following sale, and 15% in the second month following sale. The remaining 5% of sales is never collected.

Prepare the schedule of cash collections for the third quarter, by month and in total.

Cash Collection Schedule

Jul.

Aug.

Sep.

3rd Qtr
Total planned sales

$


$


$


$


Credit sales collected during month







$


Credit sales collected one month later







$


Credit sales collected two months later







$


$


$


$


$