X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 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 $11,000. Prepare a schedule of budgeted cash receipts for April, May, and June.
X-TEL
Cash receipts from:
Cash Receipts Budget
For April, May, and June
April
May
June
Total cash receipts
$ 0 $ 0 $ 0