X-Tel budgets sales of $96,000 for April, $156,000 for May, and $90,000 for June. In addition, sales are 60% cash and 40% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $16,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April Sales $ 96,000 $ Loss Ending accounts receivable Cash receipts from Collections of prior month's receivables May 156,000 $ June 90,000 Total budgeted cash receipts S 0$ $ 0