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	$190,000
May	248,000
June	260,000
July	240,000
August	300,000

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 44222f0a803cfe6_1 fill in the blank 44222f0a803cfe6_2 %				$fill in the blank 44222f0a803cfe6_3
From June credit sales:
$fill in the blank 44222f0a803cfe6_4 fill in the blank 44222f0a803cfe6_5 %				fill in the blank 44222f0a803cfe6_6
From July credit sales:
$fill in the blank 44222f0a803cfe6_7 fill in the blank 44222f0a803cfe6_8 %				fill in the blank 44222f0a803cfe6_9
Less: July cash discount
$fill in the blank 44222f0a803cfe6_10 fill in the blank 44222f0a803cfe6_11 %				fill in the blank 44222f0a803cfe6_12
Cash receipts				$fill in the blank 44222f0a803cfe6_13

Question Content Area

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 f6255af99017fcc_1 fill in the blank f6255af99017fcc_2 %				$fill in the blank f6255af99017fcc_3
From July credit sales:
$fill in the blank f6255af99017fcc_4 fill in the blank f6255af99017fcc_5 %				fill in the blank f6255af99017fcc_6
From August credit sales:
$fill in the blank f6255af99017fcc_7 fill in the blank f6255af99017fcc_8 %				fill in the blank f6255af99017fcc_9
Less: August cash discount
$fill in the blank f6255af99017fcc_10 fill in the blank f6255af99017fcc_11 %				fill in the blank f6255af99017fcc_12
Cash receipts				$fill in the blank f6255af99017fcc_13