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The Guitar Shoppe reports the following sales forecast: August, $110,000; and September, $230,000. Total sales...

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The Guitar Shoppe reports the following sales forecast: August, $110,000; and September, $230,000. Total sales include 40% cash sales, 45% of credit sales collected in the month following sale, and the remaining 15% credit sales written off as uncollectible. Prepare a schedule of cash receipts for September. THE GUITAR SHOPPE Cash Receipts Budget For Month Ended September 30 Cash receipts from August sales Cash receipts from September sales Total budgeted cash receipts

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