osita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.70 per check; the mount per check averages $70. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue. uring a typical month, Rosita's has sales of $47,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: pril $30,000 ay 47,000 une 60,000 equired: repare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar. Rosita's Mexican Restaurant Schedule of Cash Receipts For the Months of May and June
osita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.70 per check; the mount per check averages $70. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue. uring a typical month, Rosita's has sales of $47,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: pril $30,000 ay 47,000 une 60,000 equired: repare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar. Rosita's Mexican Restaurant Schedule of Cash Receipts For the Months of May and June
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Schedule of Cash Receipts
Transcribed Image Text:Schedule of Cash Receipts
Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.70 per check; the
amount per check averages $70. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue.
During a typical month, Rosita's has sales of $47,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows:
April
$30,000
May
47,000
June
60,000
Required:
Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar.
Rosita's Mexican Restaurant
Schedule of Cash Receipts
For the Months of May and June
May
June
Cash sales: s
Checks
Total
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