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 $534,000 for April $544,000 for May, and $569.000 for June. The beginning balance of Accounts Receivable is $305.800 on April 1 Prepare a schedule of budgeted cash receipts for April, May, and June 41 April May June Cash sales Sales on account Total sales 37% 63% 5 OS os 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