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Schedule of Cash Collections on Accounts Receivable and Cash Budget

Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience:

Percent paid in the month of sale	20
Percent paid in the month after the sale	55
Percent paid in the second month after the sale	23

To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows:

April	$209,000
May	272,800
June	286,000
July	264,000
August	330,000

Required:

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1. Prepare a schedule of cash receipts for July. Be sure to enter percentages as whole numbers.

Roybal Inc. Schedule of Cash Receipts For July
Payments on account:
From May credit sales:
$fill in the blank b17cd2f7b02d06b_1 fill in the blank b17cd2f7b02d06b_2 %				$fill in the blank b17cd2f7b02d06b_3
From June credit sales:
$fill in the blank b17cd2f7b02d06b_4 fill in the blank b17cd2f7b02d06b_5 %				fill in the blank b17cd2f7b02d06b_6
From July credit sales:
$fill in the blank b17cd2f7b02d06b_7 fill in the blank b17cd2f7b02d06b_8 %				fill in the blank b17cd2f7b02d06b_9
Less: July cash discount
$fill in the blank b17cd2f7b02d06b_10 fill in the blank b17cd2f7b02d06b_11 %				fill in the blank b17cd2f7b02d06b_12
Cash receipts				$fill in the blank b17cd2f7b02d06b_13

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2. Prepare a schedule of cash receipts for August. Be sure to enter percentages as whole numbers.

Roybal Inc. Schedule of Cash Receipts For August
Payments on account:
From June credit sales:
$fill in the blank eda7f9021f9ffff_1 fill in the blank eda7f9021f9ffff_2 %				$fill in the blank eda7f9021f9ffff_3
From July credit sales:
$fill in the blank eda7f9021f9ffff_4 fill in the blank eda7f9021f9ffff_5 %				fill in the blank eda7f9021f9ffff_6
From August credit sales:
$fill in the blank eda7f9021f9ffff_7 fill in the blank eda7f9021f9ffff_8 %				fill in the blank eda7f9021f9ffff_9
Less: August cash discount
$fill in the blank eda7f9021f9ffff_10 fill in the blank eda7f9021f9ffff_11 %				fill in the blank eda7f9021f9ffff_12
Cash receipts				$fill in the blank eda7f9021f9ffff_13