X-Tel budgets sales of $100,000 for April, $130,000 for May, and $80,000 for June. Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. Total sales for March were $12,000. Prepare a schedule of cash receipts from sales for April, May, and June Sales X-TEL Schedule of Cash Receipts from Sales Cash receipts from: Collections of prior period sales Cash sales Total cash receipts April May June $ 100,000 $ 130,000 $ 80,000 50,000 65,000 40,000 $ 50,000 $ 65,000 $ 40,000