QS 22-10 Cash receipts budget LO P2 X-Tel budgets sales of $90,000 for April, $110,000 for May, and $90,000 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 $16,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April May June $ 90,000 $ 110,000 $90,000 Sales Cash receipts from: Total cash receipts