Answer Happy

Schedule of Cash Collections of Accounts Receivable Fur Family
Inc., a pet wholesale supplier, was organized on May 1. Projected
sales for each of the first three months of operations are as
follows:
May $620,000
June 870,000
July 1,560,000
All sales are on account. Of sales on account, 53% are expected
to be collected in the month of the sale, 32% in the first month
following the sale, and the remainder in the second month following
the sale.
This information has been collected in the Microsoft Excel
Online file. Open the spreadsheet, perform the required analysis,
and input your answers in the question below.
Prepare a schedule indicating cash collections from sales for
May, June, and July. FUR FAMILY INC. Schedule of Collections from
Sales For the Three Months Ending July 31 May June July
May sales on account: Collected in May $ fill in the blank 2
Collected in June fill in the blank 3 Collected in July fill in the
blank 4
June sales on account: Collected in June fill in the blank 5
Collected in July fill in the blank 6
July sales on account: Collected in July fill in the blank 7
Total cash collected $ fill in the blank 8 $ fill in the blank 9
$ fill in the blank 10 Check My Work