QS 20-19 (Algo) Schedule of cash receipts LO P2 Music World reports the following budgeted sales: August, $140,000; and September, $220,000. Cash sales are 50% of total sales, and all credit sales are collected in the month following the sale. Prepare a schedule of cash receipts from sales for September. QS 20-26A (Algo) Merchandising: Cash payments for merchandise LO P4 Garda purchased $680,000 of merchandise in August and budgets merchandise purchases of $710,000 in September. Merchandise purchases are paid as follows: 30% in the month of purchase and 70% in the month after the purchase. Prepare a schedule of cash payments for merchandise purchases for September
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