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Question: schedule of cash receipts rosita flores owns rositas mexican restaurant...

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3 month Cash Receipts an aff of your P Exercise 8.20 schedule o Restaurant in Tempe, and checks. Checks are Rosita Flores owns as Mexican accepts check averages s75 restaurant near campus and several hotels amount 80 percen are cash sales The make up 3 percent of check revenue. checks that Rosita cannot collect of S45. About has sales During a typical months are as follows: Estimated sales for the next three S32.000 45,000 May June Required: May June. und all amounts to the nearest Prepare a schedule of cash receipts for and dollar.) Exercise 8.21 Schedule of Cash Receipts Refer to Exercise 8.20. Rosita thinks that it may be time to refuse to accept checks and to stan accepting credit cards. She is negotiating with and American Express, and she would start the new policy on April l. Rosita estimates that with the in sales from the no checks policy and the increase in sales from the acceptance of credit cards, the net in sales will be 30 percent. The credit cards do involve added costs as follows: t month a will accumulate these credit card receipts throughout and submit them in one bundle for payment on the last day of the month. The money will be credited to her account by the fifth day of the following month. A fee of 3.5 percent is charged by the credit card company. American Express: Rosita will accumulate these receipts throughout the month and send them to American Express for payment on the last day of the month. American Express wil credit her account by the sixth day of the following month. A fee of 5.5 percent is charged by American Express Rosita estimates the following breakdown of revenues a the various payment methods. Cash VISA/Mastercard American Express Required: Prepare a schedule of cash receipts for May and Junc rates the changes in policy (Round all amounts to the nearest dollar.)
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