Problem 6-20 Cash receipts schedule (L06-1) Eastern Auto Parts Inc. has 20 percent of its sales paid for in cash and 80 percent on credit. All credit accounts are collected in the following month Assume the following sales: January February March April $ 66,000 56,000 101,000 46,000 Sales in December of the prior year were $76,000, Prepare a cash receipts schedule for January through April. Eastern Auto Parts Inc. January February 66,000 $ 56,000 5 April March 101,000 $ Sales Cash receipts Cash sales Prior month's credit sales Total cash receipts $ 13,200 $ 60,800 74.000 $ 11,200 $ 52,800 64,000 $ 20 200 44,800 65,000 $ $ 90,000