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Jasper Company has sales on account and for cash. Specifically, 58% of its sales are...

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Accounting

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Jasper Company has sales on account and for cash. Specifically, 58% of its sales are on account and 42% are for cosh Credit sales are collected in full in the month following the sale. The company forecasts sales of $526,000 for April, $536,000 for May, and $561,000 for June. The beginning balance of Accounts Receivable is $293,600 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales Sales on account 42% 58% $ Total sales 05 0 0 $ May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts

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