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

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 9eb31703dfeefe1_1 fill in the blank 9eb31703dfeefe1_2 %				$fill in the blank 9eb31703dfeefe1_3
From June credit sales:
$fill in the blank 9eb31703dfeefe1_4 fill in the blank 9eb31703dfeefe1_5 %				fill in the blank 9eb31703dfeefe1_6
From July credit sales:
$fill in the blank 9eb31703dfeefe1_7 fill in the blank 9eb31703dfeefe1_8 %				fill in the blank 9eb31703dfeefe1_9
Less: July cash discount
$fill in the blank 9eb31703dfeefe1_10 fill in the blank 9eb31703dfeefe1_11 %				fill in the blank 9eb31703dfeefe1_12
Cash receipts				$fill in the blank 9eb31703dfeefe1_13

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 420156007fd606f_1 fill in the blank 420156007fd606f_2 %				$fill in the blank 420156007fd606f_3
From July credit sales:
$fill in the blank 420156007fd606f_4 fill in the blank 420156007fd606f_5 %				fill in the blank 420156007fd606f_6
From August credit sales:
$fill in the blank 420156007fd606f_7 fill in the blank 420156007fd606f_8 %				fill in the blank 420156007fd606f_9
Less: August cash discount
$fill in the blank 420156007fd606f_10 fill in the blank 420156007fd606f_11 %				fill in the blank 420156007fd606f_12
Cash receipts				$fill in the blank 420156007fd606f_13