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Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash: Specifically, 59% of its sales are on account and

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Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash: Specifically, 59% of its sales are on account and 41% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $522,000 for April, $532.000 for May, and $557.000 for June. The beginning balance of Accounts Receivable is $293.900 on April 1. Prepare a schedule of budgeted cash receipts for April May, and June April May June 419 Cash sales Sales on account Total sales 59% 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

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