Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 59% ofits sales are on account nd 41% re for cash, edit sales are collected In full In the month following the sale. The company forecasts sales of $528,000 for April, $538,000 for May, and $563,000 for June. The beginning balance of Accounts Recelvable is $293,700 on Aprll 1 Prepare a schedule of budgeted cash receipts for April, May and June April May June Cash sales 41% Sales on account 59% Total sales JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts