K QS 20-20 (Algo) Schedule of cash receipts with uncollectibles LO P2 The Guitar Shoppe reports the following budgeted sales: August, $110,000; and September, $260,000. For its total sales, 30% are immediately collected in cash, 50% are credit sales and collected in the month following sale, and the remaining 20% are written off as uncollectible. Prepare a schedule of cash receipts from sales for September. THE GUITAR SHOPPE Schedule of Cash Receipts from Sales Sales nces Cash receipts from: Cash sales Collections of prior period sales Total cash receipts September $ 260,000