In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $16,000. Prepare a schedule of budgeted cash receipts for April, May, and June May June $ 55,000 X-TEL Cash Receipts Budget For April, May, and June April Collections of prior month's receivables $ 60,000 $ Add Ending accounts receivable 40 r . Cash receipts from Sales 16,0001 Accounts payable 16.0001 Total budgeted cash receipts $ 32,000 5 125,000 40 0 5 0