Exercise 20-18 Budgeted cash receipts LO P2 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 $515,000 for April, $525.000 for May, and $550,000 for June. The beginning balance of Accounts Receivable is $294.400 on April 1 Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 38% Sales on account Total sales $ 05 $ 0 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