Schedule of cash receipts

Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.70 per check; the amount per check averages $80. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue.

During a typical month, Rosita's has sales of $48,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows:

April $30,000

May $48,000

June $56,000

Required:

set up a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar.

Rosita's Mexican Restaurant

schedule of cash receipts

for the months of May and June

May. June.

Cash sales. ______. ______

checks. _______. ______

total. _______. _______