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Ridgewood Retailers expects credit sales in the next quarter as follows: April $63,300 May 96,200 June 113,000 Prior experience has shown that 61 percent of

Ridgewood Retailers expects credit sales in the next quarter as follows:

April $63,300
May 96,200
June 113,000

Prior experience has shown that 61 percent of a months sales are collected in the month of sale, 18 percent are collected in the month following sale, and the remaining 21 percent are collected in the second month following sale. February and March sales were $82,200 and $107,000, respectively. Estimate budgeted cash receipts for April, May, and June.

Collection of credit sales

April

May

June

Collection of February sales

$

$

$

Collection of March sales

Collection of April sales

Collection of May sales

Collection of June sales

$

$

$

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