Blue Spruce Development, Inc. has budgeted sales revenues as follows: Budgeted Sales Revenues January $50,000 February 66.000 March 96,000 April 83,000 May 61,000 June 37,000 Past experience has indicated that 70% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale. The other 5% is uncollectible. Prepare a schedule which shows expected cash receipts from sales for the months of April, May, and June. (Do not leave any answer field blank. Enter O for amounts) February Sales Credit Sales March Sales April BLUE SPRUCEDEVELOPMENT, INC. Expected Cash Receipts from Sales For the Quarter Ended June 30 May S June