QS 20-10 Cash receipts budget LO P2 X-Tel budgets sales of $108,000 for April, $168,000 for May, and $90,000 for June. In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $18,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X Answer is complete but not entirely correct. X-TEL June Cash Receipts Budget For April, May, and June April Sales $ 108,000 Less: Ending accounts receivable 64,800 Cash receipts from: Cash sales 43,200 Collections of prior month's receivables 18,000 Total budgeted cash receipts $ 61,200 May $ 168,000 100,800 $ 90,000 54,000 36,000 67,200 28,800 $ 96,000 46,080 82,080