Ch 07 Ex 7-18 Saved Help Save Exercise 7-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 63% of its sales are on account and 37% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $518.000 for Apri. $528,000 for May, and $553,000 for June. The beginning balance of Accounts Receivable is $304,000 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 37% Sales on account 63% 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