Novak Development, Inc. has budgeted sales revenues as follows: Budgeted Sales Revenues. January February $56,000 67,000 March 95,000 April 78,000 May June 60,000 32,000 Past experience has indicated that 70% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale. The other 5% is uncollectible. Prepare a schedule which shows expected cash receipts from sales for the months of April, May, and June. (Do not leave any answer field blank. Enter O for amounts.) February Sales Credit Sales March Sales Credit Sales April Sales Credit Sales Cash Sales April NOVAKDEVELOPMENT, INC. Expected Cash Receipts from Sales For the Quarter Ended June 30 May June