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Jasper Company has 65% of its sales on credit and 35% for cash. All credit sales are collected in full in the first month following

image text in transcribedimage text in transcribed Jasper Company has 65% of its sales on credit and 35% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $525,000 for April, $535,000 for May, and $560,000 for June. Total sales for March are $291,000. Prepare a schedule of cash receipts from sales for April, May, and June. Zisk Company purchases direct materials on credit. Budgeted purchases are April, $83,000; May, $113,000; and June, $123,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $73,000. Prepare a schedule of cash payments for direct materials for April, May, and June

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