Victoria’s Apparel has forecast credit sales for the fourth quarter of the year as: September (actual) . $50,000 Fourth Quarter October .

Victoria’s Apparel has forecast credit sales for the fourth quarter of the year as:September (actual) . . . . . . . . . . $50,000Fourth QuarterOctober . . . . . . . . . . . . . . . . . . . $40,000November . . . . . . . . . . . . . . . . . 35,000December . . . . . . . . . . . . . . . . . 60,000Experience has shown that 20 percent of sales are collected in the month of sale, 70 percent in the following month, and 10 percent are never collected.Prepare a schedule of cash receipts for Victoria’s Apparel covering the fourth quarter (October through December).