Schedule of Cash Collections on Accounts Recelvable and Cash Budget

Roybal Inc. sells all of its product on account. Roybal has the following accounts recelvable 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:

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:

$$359,600vvx$

From June credit sales:

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:

$

$x$