Problem 8-123 (Algo) (LO 8-4) Portia is a retailer of scrapbooking products. The sales forecast for the coming months is

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Problem 8 123 Algo Lo 8 4 Portia Is A Retailer Of Scrapbooking Products The Sales Forecast For The Coming Months Is 1 (63.02 KiB) Viewed 37 times

Problem 8-123 (Algo) (LO 8-4) Portia is a retailer of scrapbooking products. The sales forecast for the coming months is: April (actual) May (actual) June July August Revenues $ 263,000 $ 288,000 $ 313,000 $ 363,000 $ 363,000 Portia's sales are all credit. The collection pattern is 60% in the month of sale, 35% the following month and the remainder in the second month following the sale. Accounts receivable on April 1 were $129,000. a. Prepare a cash receipts schedule for the period June through August (by month). June July August Month of Sale Month Following 2nd Month Total Collection