chapter 20 Q10

Liza's budgets sales of $45,000 for May and $57,000 for June. Assume 50% of Liza's sales are for cash. The remaining 50% are credit sales, credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June. LIZA'S Schedule of Cash Receipts from Sale June Sales $ 57,000 Cash receipts from 5 0 Total cash receipts