Accounts Receivable Aging Schedule and Cash Budget Janzen Inc. sells all of its product on account. Janzen has the following accounts receivable payment experience: 20 55 Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the second month after the sale To encourage payment in the month of sale, Janzen gives a 2% cash discount. Janzen's anticipated sales for the next few months are as follows: April May June July August Required: $190,000 248,000 260,000 240,000 300,000 If required, round your answers to the nearest dollar. 1. Prepare a schedule of cash receipts for July Janzen Inc. Schedule of Cash Receipts For July Payments on account: From May credit sales: From June credit sales: From July credit sales: Less: July cash discount Cash receipts 2. Prepare a schedule of cash receipts for August. Roybal Inc. Schedule of Cash Receipts For August Payments on account: From June credit sales: From July credit sales: From August credit sales: Less: August cash discount Cash receipts Accounts Receivable Aging Schedule and Cash Budget Janzen Inc. sells all of its product on account. Janzen has the following accounts receivable payment experience: 20 55 Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the second month after the sale To encourage payment in the month of sale, Janzen gives a 2% cash discount. Janzen's anticipated sales for the next few months are as follows: April May June July August Required: $190,000 248,000 260,000 240,000 300,000 If required, round your answers to the nearest dollar. 1. Prepare a schedule of cash receipts for July Janzen Inc. Schedule of Cash Receipts For July Payments on account: From May credit sales: From June credit sales: From July credit sales: Less: July cash discount Cash receipts 2. Prepare a schedule of cash receipts for August. Roybal Inc. Schedule of Cash Receipts For August Payments on account: From June credit sales: From July credit sales: From August credit sales: Less: August cash discount Cash receipts