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 $523,000 for April, $533,000 for May, and $558,000 for June. The beginning balance of Accounts Receivable is $298.100 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% May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from Cash sales Collection of accounts receivable Next for June. The beginning balance of Accounts Receivable is $298,100 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 40% Sales on account 60% Total sales JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts