schedule of cash receipts for the second quarter.

Budgeted Sales April $400, 080 May 500, 060 June 600, 080 The company is in the process of preparing a cash budget for the second quarter. To this end, the following information has been assembled: Collections on Sales In month of sale 70% In month following sale 25% In second month following sale 5% The company gives a 1% cash discount to customers paying in the month of the sale. Records show past sales to be: January $300,000, February $340,000, and March $360,000. Required: Prepare a schedule of cash receipts for the second quarter. Essay Toolbar navigation BIYS