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Jasper Company has 57% of its sales on credit and 43% for cash. All credit sales are collected in full in the first month following
Jasper Company has 57% of its sales on credit and 43% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $519,000 for April, $529,000 for May, and $554,000 for June. Total sales for March are $296,700. Prepare a schedule of cash receipts from sales for April, May, and June.
JASPER COMPANY Schedule of Cash Receipts from Sales \begin{tabular}{l|r|r|r} & April & May & June \\ \hline Sales & 519,000 & 529,000 & 554,000 \\ \hline Cash receipts from: & & & \\ \hline & & & \\ \hline Total cash receipts & & & \\ \hline \end{tabular}Step by Step Solution
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