Jasper Company has 59% of its sales on credit and 41% for cash. All credit sales...

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Jasper Company has 59% of its sales on credit and 41% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $518,000 for April, $528,000 for May, and $553,000 for June. Total sales for March are $296,100. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales April May June Sales 518,000 Cash receipts from: Cash sales Collections of prior period sales Total cash receipts 528,000 553,000 Jasper Company has 59% of its sales on credit and 41% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $518,000 for April, $528,000 for May, and $553,000 for June. Total sales for March are $296,100. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales April May June Sales 518,000 Cash receipts from: Cash sales Collections of prior period sales Total cash receipts 528,000 553,000

Answer rating: 100% (QA)

April Credit Sale Collection 29610059 174699 1 Cash Sales Sales on account Total ... View the full answer