Eastern Auto Parts Inc. has 20 percent of its sales paid for in cash and 80 percent on credit. All credit accounts are collected in the following month Assume the following sales January February March April $ 74,000 64,000 109,000 54,000 Sales in December of the prior year were $84,000 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 72,000 $ 73,000 $ 98,000