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Oak Retailers expects credit sales in the next quarter as follows: April $66,200 May 88,400 June 112,000 Prior experience has shown that 66 percent of

Oak Retailers expects credit sales in the next quarter as follows:

April $66,200
May 88,400
June 112,000

Prior experience has shown that 66 percent of a months sales are collected in the month of sale, 25 percent are collected in the month following sale, and the remaining 9 percent are collected in the second month following sale. February and March sales were $92,500 and $109,000, respectively. Estimate budgeted cash receipts for April, May, and June.

Collection of credit sales

April

May

June

Collection of February sales

$

$

$

Collection of March sales

Collection of April sales

Collection of May sales

Collection of June sales

$

$

$

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