Question: How do you fill in the missing amounts in the following schedule. AprilMayJune Sales* $258,000$193,500$ Cash receipts: From cash sales $$$145,800 From sales on account**

How do you fill in the missing amounts in the following schedule.

AprilMayJune

Sales* $258,000$193,500$

Cash receipts:

From cash sales $$$145,800

From sales on account** $$106,425$

Total cash receipts $$$

  • Half of each month's sales are on account. March sales amounted to $193,500

** 70% of credit sales is collected in the month of sale; 30% is collected in the following month.

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