Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on...

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Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on account and 41% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $527,000 for April, $537,000 for May, and $562,000 for June. The beginning balance of Accounts Receivable is $299,300 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 41% Sales on account 59% Total sales $ 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 0 $ May 0 $ June 0 Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on account and 41% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $527,000 for April, $537,000 for May, and $562,000 for June. The beginning balance of Accounts Receivable is $299,300 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 41% Sales on account 59% Total sales $ 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 0 $ May 0 $ June 0

Answer rating: 100% (QA)

April Cash 41 218120 sales 53200041 Credit 59 313880 sales 53200059 Total 532000 ... View the full answer