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The following actual and budgeted sales relate to AgriTech Company, a distributor of agricultural products located somewherePrepare the schedule of cash collections for april may and june

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schedule of cash collections for April, May and June

April May June
Cash sales 60,000 x 60% = 36,000 72,000 x 60% = 43,200 90,000 x 60% = 54,000
Collection from credit sale of March 20,000 0 0
Collection from credit sale of April 0 24,000 0
Collection from credit sale of May 0 0 28,800
Total cash collections $56,000 $67,200 $82,800

Credit sale of March = 50,000 x 40%

= $20,000

Credit sale of April = 60,000 x 40%

= $24,000

Credit sale of May = 72,000 x 40%

= $28,800

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