Parker Company Has Forecast Its Sales as Follows Parker Has Experienced Collections of 55% During the Month of |

Parker Company has forecast its sales as follows:

$$\begin{array} { | l | r | l | } \hline \text { November } & \$ 190,000 & \text { (actual) } \\\hline \text { December } & \$ 240,000 & \text { (actual) } \\\hline \text { January } & \$ 280,000 & \\\hline \text { February } & \$ 300,000 & \\\hline \text { March } & \$ 350,000 & \\\hline \text { April } & \$ 320,000 & \\\hline\end{array}$$ Parker has experienced collections of 55% during the month of sale,38% the month after the sale,and 7% the second month after the sale.Required:
a.Prepare a schedule of cash receipts for the 4 month period January - April.b.What will the Accounts Receivable balance be on April 30?