QS 20-21 (Algo) Schedule of cash receipts with uncollectibles LO P2 Wells Company reports the following budgeted sales: September, $60,000; October, $71,000; and November, $87,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November 87.000 WELLS COMPANY Schedule of Cash Receipts from Sales November Sales $ Cash receipts from: Cash sales Collection of October sales Collection of September sales Total cash receipts