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Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following

Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $521,000 for April, $531,000 for May, and $556,000 for June. Total sales for March are $304,300. Prepare a schedule of cash receipts from sales for April, May, and June.

JASPER COMPANY
Schedule of Cash Receipts from Sales
April May June
Sales 521,000 531,000 556,000
Cash receipts from:
Accounts receivable
Total cash receipts

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