Exercise 7-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $527,0o0 for April, $537,000 for May, and $562,000 for June. The beginning balance of Accounts Receivable is $299,100 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June April May June Cash sales 44% Sales on account 56% Total sales JASPER COMPANY Schedule of Cash Receipts For April, May, and June May April June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts