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Managerial accountin. Thank you Corporation's sales of gizmos are 25% for cash and 75% on credit. Past collection history indicates that credit sales are collected

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Corporation's sales of gizmos are 25% for cash and 75% on credit. Past collection history indicates that credit sales are collected as follows: in the month of sale 30%, in the month after sale 50%, in the second month after sale 15% and uncollectible 5%. The following are he sales for each month: January $40,000, February $38,000, March $39,000 and April $56,000. Prepare the cash receipts budget for April

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