X-Tel budgets sales of $70,000 for April, $145,000 for May, and $75,000 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 Cash receipts from Total cash receipts X-TEL Schedule of Cash Receipts from Sales April S May 70,000 $ 145,000 $ June 75.000

X-Tel budgets sales of $70,000 for April, $145,000 for May, and $75,000 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 Cash receipts from Total cash receipts X-TEL Schedule of Cash Receipts from Sales April S May 70,000 $ 145,000 $ June 75.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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