PROBLEM #5: Shatner Company has budgeted sales revenue as follows Budaeted Sales Revenues January February March April May June $55,000 80,000 90,000 75,000 50,000 15,000 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 Instructions Prepare a schedule which shows expected cash receipts from sales for the months of April, May, and June Sample format for your answer is below SHATNER COMPANY Expected Cash Receipts from Sales For the Quarter Ended June 30 _June