Exercise 7-18 Budgeted cash recelpts Lo P2 Jasper Company has sales on account and for cash. Specifically, 58% of its sales are on account and 42% are for cash Credit sales are collected In full In the month following the sale. The company forecasts sales of $533,000 for April, $543,000 for May, and $568,000 for June. The beginning balance of Accounts Recevable Is $296,400 on Aprl 1. Prepare a schedule of budgeted cash receipts for Aprl, May, and June April May June Cash sales Sales on account 42% JA SPER COMPANY Schedule of Cash Receipts For April, May, and June April May Cash receipts from: Collection of accounts receivable Total budgeted cash receipts