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Help Save & En Sun Exercise 20-18 Budgeted cash receipts LO P2 per Company has sales on account and for cash. Specifically, 59% of its sales are on account and 49% are for cash. Credit sales are lected in full in the month following the sale. The company forecasts sales of $530,000 for April, $540,000 for May, and $565.000 Taclone. The beginning balance of Accounts Receivable is $306700 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June sh sales les on account Total sales 41% 50% $ os 0 $ 0 May June JASPER COMPANY Schedule of Con Recept For All, May, and June April Cash receipts from Cash sales Collection of accounts receivable Total budgeted cash receipts Exercise 20-18 Budgeted cash receipts LO P2 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 $530,000 for April, $540,000 for May, and $565,000 for June. The beginning balance of Accounts Receivable is $306,700 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 41% Cash sales Sales on account Total sales 59% $ 0 $ 0 $ 0 May June 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