Exercise 20-18 (Algo) Schedule of cash receipts LO P2 Jasper Company has 61% of its sales...

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Exercise 20-18 (Algo) Schedule of cash receipts LO P2 Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $520,000 for April, $530,000 for May, and $555,000 for June. Total sales for March are $307,800. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales April May June 520,000 530,000 555,000 Sales Cash receipts from: Cash sales $ 202,800 $ 206,700 $ 216,450 Collections of prior period sales 317,200 323,300 338,550 Total cash receipts $ 520,000 $ 530,000 $ 555,000 Exercise 20-18 (Algo) Schedule of cash receipts LO P2 Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $520,000 for April, $530,000 for May, and $555,000 for June. Total sales for March are $307,800. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales April May June 520,000 530,000 555,000 Sales Cash receipts from: Cash sales $ 202,800 $ 206,700 $ 216,450 Collections of prior period sales 317,200 323,300 338,550 Total cash receipts $ 520,000 $ 530,000 $ 555,000