Exercise 22-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash Specifically, 60% of its sales are on account and 40% are for cash Credit sales are collected in full in the month following the sale. The company forecasts sales of $531,000 for April, $541000 for May, and $566,000 for June. The beginning balance of Accounts Receivable is $307,400 on April 1 Prepare a schedule of budgeted cash receipts for April, May, and June April May June Cash sales Sales on account Total sales 40% 60% 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 May June