Exercise 22-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 65% of its sales are on account and 35% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $527,000 for April, $537,000 for May, and $562,000 for June. The beginning balance of Accounts Receivable is $294,900 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 35% Cash sales Sales on account Total sales 65% $ 0 $ 0 $ 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