QS 20-10 Cash receipts budget LO P2

X-Tel budgets sales of $60,000 for April, $125,000 for May, and $75,000 for June. In addition, sales are 60% cash and 40% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $17,000. Prepare a schedule of budgeted cash receipts for April, May, and June.