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Exercise 22-12 Budgeted cash receipts LO P1 Jasper Company has sales on account and for cash. Specifically, 57% of its sales are on account and
Exercise 22-12 Budgeted cash receipts LO P1 Jasper Company has sales on account and for cash. Specifically, 57% of its sales are on account and 43% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $517,000 for April, $527,000 for May, and $552,000 for June. The beginning balance of Accounts Receivable is $302,000 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June
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