5 Jasper Company has sales on account and for cash. Specifically, 62% of its sales are on account and 38% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $522,000 for April, $532,000 for May, and $557,000 for June. The beginning balance of Accounts Receivable is $303,100 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. 8 01:57:49 April May June 38% Cash sales Sales on account Total sales 62% 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 6 Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $84,000; May, $114,000; and June, $124,000. Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $26,000. Prepare a schedule of budgeted cash payments for April, May, and June. 8 01:57:36 April May June 75% Current month purchases Ending accounts payable Total purchases 25% May June Zisk Co. Schedule of Cash Payments For April, May, and June April Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials