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Pharoah Company has budgeted monthly sales revenue for the first 6 months of 2022 as follows: Budgeted Sales Revenues January $63,000 February 76,000 March 82,000

Pharoah Company has budgeted monthly sales revenue for the first 6 months of 2022 as follows:

Budgeted Sales Revenues

January

$63,000

February

76,000

March

82,000

April

76,000

May

63,000

June

16,000

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 0 for amounts.)

PHAROAH COMPANY Expected Cash Receipts from Sales For the Months of April, May and June 2022

Collection of sales

April

May

June

Collection of February sales

Credit Sales

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Cash Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Collection of March sales

Credit Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Cash Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Collection of April sales

Credit Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Cash Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Collection of May sales

Credit Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Cash Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Collection of June sales

Credit Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Cash Sales

enter a dollar amount enter a dollar amount enter a dollar amount

Total cash receipts

$enter a total amount for this column

$enter a total amount for this column

$enter a total amount for this column

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