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Secure https://newconnect.mheducation t.html?isRegatrue&returnUr; Ishttps%3A%2F%2Fconnect.mheducation.com%2 Fpaamweb%2Fin G Google )?Connect .. Cengage?Cambridge Diction. EasyBib Citation st. Chegg Study l Guid. D E SPN D tono a w wkay.co nlenha Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completio Return to qu X-Tel budgets sales of $60,000 for April, $150,000 for May, and $95,000 for June. In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The April 1 balan accounts recelvable is $19,000. Prepare a schedule of budgeted cash receipts for April, May, and June. 8.33 points Answer is not complete Cash Receipts Budget For April, May, and June June $ 60,0001 150,000 $ 95,000 Sales Less: Ending accounts receivable Cash receipts from: Cash sales Collections of prior month's Total cash receipts 19,000 19,000 S 0 Prey 3of6? Next >

Explanation / Answer

cash receipts budget

April

may

june

sales

60000

150000

95000

less ending accounts receivables

95000*60%

57000

cash receipts from

cash sales-40% of month sale

24000

60000

38000

collection of prior month accounts receivables

60% of previous month sale

19000

36000

90000

total cash receipts

43000

96000

128000

cash receipts budget

April

may

june

sales

60000

150000

95000

less ending accounts receivables

95000*60%

57000

cash receipts from

cash sales-40% of month sale

24000

60000

38000

collection of prior month accounts receivables

60% of previous month sale

19000

36000

90000

total cash receipts

43000

96000

128000

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