Eastern Auto Parts Inc. has 15 percent of its sales paid for in cash and 85 percent on credit. All credit accounts are collected in the following month. Assume the following sales: January February March April $ 85,000 75,000 120,000 65,000 Sales in December of the prior year were $95,000. Prepare a cash receipts schedule for January through April. Eastern Auto Parts Inc. January February March April Sales Cash receipts: Cash sales Prior month's credit sales Total cash receipts $ 0 $ 83,500 $ 81,750 $ 111,750