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Your answer is partially correct. Ayayai Company has budgeted sales revenue as follows for the...

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Accounting

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Your answer is partially correct. Ayayai Company has budgeted sales revenue as follows for the next 4 months: Past experience indicates that 70% of sales each month are on credit. The remainder are cash sales. Collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible. Prepare a schedule which shows expected cash receipts from sales for the month of May

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