Exercise 20-18 Budgeted cash receipts LO P2 7 Jasper Company has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $532.000 for April. $542,000 for Moy, and $567,000 for June. The beginning balance of Accounts Receivable is $302.700 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June April May June Cash sales Sains on account Total sales 50% JASPER COMPANY Schedule of Cash Receipts For April May, and June April May June Cash receipts from Cash sales Collection of accounts receivable Tolal budgeted cash receipts