Wells Company reports the following budgeted sales: September, $53,000; October, $63,000; and November, $74,000. 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 November $ 74,000 Sales Cash receipts from Cash sales Collection of October sales Collection of September sales Total cash receipts