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: January $300,000 February 430,000
March 570,000
All sales are on account. 58% of sales are expected to be collected in the month of the sale, 38% 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.

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