Shatner Company has budgeted sales revenue as follows:

Budgeted Sales Revenues

January $55,000

February 80,000

March 90,000

April 65,000

May 50,000

June 15,000

Past experience has indicated that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale. The other 5% is uncollectible.

Instructions

Prepare a schedule which shows expected cash receipts from sales for the months of April, May, and June.