A merchandising company sells only one product. The company has prepared the f

A merchandising company sells only one product. The company has prepared the following Sales Budget.

December

Jan

Feb

March

April

May

June

July

242273

145364

136642

133909

138596

143447

147750

152183

$1208942

$725366

$681844

$668206

$691594

$715801

$737273

$759393

Of total sales 35% are made in cash. Of sales made on credit 60% are paid in the first month in time to take a 4% discount 20% are paid the
following month and 15% are paid two months after the sale. In January the company collected $78581 from sales made on credit in November.
Prepare a Cash Collections Schedule.

Prepare an Accounts Receivable Schedule.

Can anybody tell me how to calculate the beginning A/R for Jan (the first month in the AP schedule). Thanks a lot