Wells Company reports the following budgeted sales: September, $55,000; October, $66,000; and November, $80,000. All sal

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Wells Company Reports The Following Budgeted Sales September 55 000 October 66 000 And November 80 000 All Sal 1 (44.87 KiB) Viewed 16 times

Wells Company reports the following budgeted sales: September, $55,000; October, $66,000; and November, $80,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November WELLS COMPANY Schedule of Cash Receipts from Sales November Sales Cash receipts from: $ 80,000 Total cash receipts