Exercise 7-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 57% of its sales are on account and 43% are for cash, Credit sales are collected in ful in the month following the sale. The company forecasts sales of $524,000 for April, $534,000 for May and $55300 for June. The beginning balance of Accoynts Receivable is $293,200 on April 1 ePrepare a schedule of budgeted cash receipts for April, May, and June. pped April May ook Cash sales 43% ent Sales on account 57% Total sales JASPER COMPANY Schedule of Cash Receipts For April, May, and June Apri May June Casn receipts from Cash sales Colection of accounts recevable Total budgeted cash receipts