M2Q11

Schedule of Cash Recelpts Rosita Fores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurent near campus and several hotels: Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per check; the amount per check averages $85. "Bad" checks that Rosita cannot collect make up 4 percent of check revenue. During a typical month, Rosita's has sales of $45,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: Required: Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar