Wells Company reports the following budgeted sales: September, $52,000; October, $68,000; and November, $87,000. 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 $ 87,000 Total cash receipts $ 0