QS 20-20 Cash receipts, with uncollectible accounts LO P2 The Guitar Shoppe reports the following sales forecast: August, $100,000; and September $190,000. Total sales include 30% cash sales, 55% of credit sales collected in the month following sale, and the remaining 15% credit sales written off as uncollectible. Prepare a schedule of cash receipts for September THE GUITAR SHOPPE Cash Receipts Budget For Month Ended September 30 Cash receipts from August sales Cash receipts from September sales Total budgeted cash receipts QS 20-22 Computing budgeted accounts receivable LO P2 Kingston anticipates total sales for June and July of $330,000 and $438,000, respectively, Cash sales are normally 60% of total sales. of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 Percent Still Amount Uncollected Uncollected Sales month Total Sales Credit Sales June $ 330,000 438,000 July Total