Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 63% of its sales are on account and 37% are for cash Credit sales are collected in full in the month following the sale. The company forecasts sales of $535,000 for April, $545,000 for May, and $570,000 for June. The beginning balance of Accounts Receivable is $290,700 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 37% Cash sales Sales on account Total sales 63% JASPER COMPANY Schedule of Cash Receipts Fot April May, and June April Cash receipts from Cash sales Collection of accounts receivable May June Activate Windows conecteu tun in the month TOHOwing ue sale. The company forecasts Sdies Ol D355,00U 101 Apni, >945,000 10 May, and I for June. The beginning balance of Accounts Receivable is $290,700 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June April May June 37% Cash sales Sales on account Total sales 63% May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from Cash salos Collection of accounts receivable Total budgeted cash receipts Activate Win