Exercise 7-18 Budgeted cash receipts LO P2. Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on account and 41% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $528,000 for April, $538,000 for May, and $563,000 for June. The beginning balance of Accounts Receivable is $308,700 on April 1.

Prepare a schedule of budgeted cash receipts for April, May, and June.