Question: QS 2 0 - 2 1 ( Algo ) Schedule of cash receipts with uncollectibles LO P 2 Wells Company reports the following budgeted sales:

QS 20-21(Algo) Schedule of cash receipts with uncollectibles LO P2
Wells Company reports the following budgeted sales: September, $61,000; October, $57,000; and November, $83,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November.
\table[[WELLS COMPANY],[Schedule of Cash Receipts from Sales],[November],[Sales,$,83,000
 QS 20-21(Algo) Schedule of cash receipts with uncollectibles LO P2 Wells

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