Exercise 20-18 (Algo) Schedule of cash receipts LO P2 Jasper Company has 56% of its sales on credit and 44% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $530,000 for April $540,000 for May, and $565,000 for June. Total sales for March are $290,200 Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 44% 50% Sales on account Total sales JASPER COMPANY Schedule of Cash Recipes April May June Cash receipts from Cash sales Collection of accounts receivable Total cash receipts