I need help with solving this problem for my business class.?

[E to the C]

Preparing Schedule of Cash Receipts:
Clooney Company expects sales for the first three months of next year to be $200,000, $235,000 and $298,000, respectively. Clooney expects 40 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 70 percent in the month of the sale and 30 percent in the following month.

Required:
Calculate Clooney’s cash collections for the months of February and March. (Omit the "$" sign in your response.)


Budgeted cash receiptsFor February= $ ______ For March= $______

[robert m]

On the basis of teach a man to fish...(eat for life) or Give a man a fish and he will eat that day

For Feb you calculate 40% of 200K (cash sales).
The remaining 60% (of 200k) is credit sales. Calculate 70% of that figure (credit sales collected)
Add the two together and you have the answer for february

For March its slightly different but in prinicple its same calculations using different sums
Remember you will also collect the remainder (30%) of Feb credit sales in this period.

Calculate 40% of 235K (cash sales).
Then 30% of 200K (credit sales collected)
Add the two together and you have the answer for february