Fill in the missing amounts in the following schedules. Half of each month's sales are on account. March sales amounted to $189,000. 60% of credit sales is collected in the month of sale; 40% is collected in the following month.

April May June

Sales $268,000 $201,000 $303,600

Cash receipts:

From cash sales $134,000 $100,500 $151,800

From sales on account 113,900

Total cash receipts $214,400

Instructions are below.

Explanation:

Giving the following information:

March:

Sales on account = 189,000*0.5 = 94,500

April May June

Sales $268,000 $201,000 $303,600

Cash collection April:

From cash sales = 268,000*0.5 = 134,000

From sales on account = (94,500*0.4) + (134,000*0.6) = 118,200

Total cash receopt = 252,200

Cash collection May:

From cash sales = 201,000*0.5 = 100,500

From sales on account = (134,000*0.4) + (100,500*0.6) = 113,900

Total cash receopt = 214,400

Cash collection June:

From cash sales = 303,600*0.5 = 151,800

From sales on account = (100,500*0.4) + (151,800*0.6) = 131,280

Total cash receopt = 283,080