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Jasper Company has sales on account and for cash. Specifically, 57% of its sales are...

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Accounting

Jasper Company has sales on account and for cash. Specifically, 57% of its sales are on account and 43% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $532,000 for April, $542,000 for May, and $567,000 for June. The beginning balance of Accounts Receivable is $302,100 on April 1.

Prepare a schedule of budgeted cash receipts for April, May, and June.
April May June
Cash sales 43%
Sales on account 57%
Total sales
JASPER COMPANY
Schedule of Cash Receipts
For April, May, and June
April May June
Cash receipts from:
Cash sales
Collection of accounts receivable
Total budgeted cash receipts

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