Bina Paudel and Company is a legal services firm. All sales of legal services are billed to clients.

Bina Paudel and Company is a legal services firm. All sales of legal services are billed to clients (there are no cash sales). Bina Paudel expects that, on average, 20 percent will be paid in the month of billing, 50 percent will be paid in the month following billing, and 25 percent will be paid in the second month following billing. For the next five months, the following sales billings are expected:

May ……………………. $ 84,000

June ……………………. 100,800

July ……………………. 77,000

August ………………… 86,800

September ……………… 91,000

Required:

Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September.

Bina Paudel and Company is a legal services firm All