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20-18 and 20-19 Exercise 20-18 Schedule of cash recelpts...

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Accounting

20-18 and 20-19
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Exercise 20-18 Schedule of cash recelpts P2 Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first menth following the sale The compary bsidgets sales of \$525,000 for April, \$535,000 for May, and \$560,000 for June. Total sales for Mareh are \$500,000. Prepare a schedult of cash recripts from sales for April, May, and June. Fiercise 20-19 Schedule of cash payments P2 Zisk Co. purchases direct materials on credit. Budgeted purchases are April, $80,000, May, $110,000; and June, 5120,000 . Cash payments for purchases are 70% in the moath of purchase and 30% in the first month after purchase. Purchases for March are $70,000. Prepare a schedule of ash payments for direce materials for April, May, and June

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