Wells Company reports the following budgeted sales: September, $49,000; October, $56,000; and November, $72,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November. WELLS COMPANY Schedule of Cash Receipts from Sales Sales Cash receipts from: November $ 72,000 $ Total cash receipts