Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on Januar

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Schedule of Cash Collections of Accounts Receivable
Pet Supplies Inc., a pet wholesale supplier, was organized on
January 1. Projected sales for each of the first three months of
operations are as follows:
All sales are on account. 53% of sales are expected to be
collected in the month of the sale, 43% in the month following the
sale, and the remainder in the second month following the sale.
Prepare a schedule indicating cash collections from sales for
January, February, and March.