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Jasper Company has 58% of its sales on credit and 42% for cash. All credit...

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Accounting

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Jasper Company has 58% of its sales on credit and 42% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $525,000 for April, $535,000 for May, and $560,000 for June. Total sales for March are $303,400. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 42% Cash sales Sales on account Total sales 58% May June JASPER COMPANY Schedule of Cash Receipts April Cash receipts from: Cash sales Collection of accounts receivable Total cash receipts

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