QS 22-20 (Algo) Schedule of cash receipts with uncollectibles LO P2 The Guitar Shoppe reports the following budgeted sales: August, $180,000; and September $170,000. For Its total sales, 35% are Immediately collected in cash, 50% are credit sales and collected in the month following sale, and the remaining 15% are written off as uncollectible. Prepare a schedule of cash receipts from sales for September, THE GUITAR SHOPPE Schedule of Cash Hecelts from Sales September Sales $ 170.000 Cash recepts from $ 0 Total cash receipts QS 22-22 (Algo) Computing budgeted accounts receivable LO P2 Kingston budgets total sales for June and July of $450,000 and $398,000, respectively, Cash sales are 65% of total sales. Of the credit sales, 25% are collected in the month of sale, 60% 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. Hint: Determine the percent of June and July sales that are uncollected at July 31 As of July 31 Percent Amount Uncollected Uncollected Sales month Total Sales Credit Sales s June July Total 450,000 398 000