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Business · 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 cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $522,000 for April, $532,000 for May, and $557,000 for June. The beginning balance of Accounts Receivable is $301,600 on April 1 Prepare a schedule of budgeted cash receipts for April, May, and June April May June Cash sales 42% Sales on account 58% 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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