Answer:
<u>schedule of cash receipts</u>
                                     May         June       July        August   September
                                       $                $           $               $                 $
Credit Fees (75%)    135,000  150,000  142,500    145,500  180,000
Cash Sales (25%)      45,000   40,000    47,500     48,500    60,000
Credit Receipt (10%)  13,500    15,000     14,250      14,550     18,000
Credit Receipt (60%)      0        81,000    90,000     85,500    87,300
Credit Receipt (26%)      0            0          35,100      39,000    37,050
Total Receipts           58,500  136,000  186,850    187,550   202,350
Explanation:
The schedule of cash receipts must include the cash sales and other amounts received for credit sales <u>in the respective months and amounts</u> as outlined by the question.