QS 20-20 Cash receipts, with uncollectible accounts LO P2 The Guitar Shoppe reports the following sales forecast: August, $120,000; and September, $180,000. Total sales include 30% cash sales, 50% of credit sales collected in the month following sale, and the remaining 20% 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