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Past experience has indicated that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in
Past experience has indicated that 80% 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 2022. (Do not leave any answer field blank. Enter O for amounts.) SHATNER COMPANY Expected Cash Receipts from Sales For the Months of April, May and June 2022 Collection of sales Collection of February sales Credit Sales Cash Sales Collection of March sales Credit Sales Cash Sales Collection of April sales Credit Sales Cash Sales Collection of May sales Credit Sales Cash Sales Collection of June sales Credit Sales Cash Sales, April 3200 June May 21600 3600 2600 15600 44200 34000 12000 10200 69000 $ 53200 $ 24800 Total cash receipts
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