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 $534,000 for April, $544,000 for May, and $569,000 for June. The beginning balance of Accounts Receivable is $308,500 on April 1 Prepare a schedule of budgeted cash receipts for April, May, and June April Mary June Cash sales Sales on account Total sales 42% 58% s 0 $ Os 0 JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from Cash sales Collection of accounts receivable Total budgeted cash receipts May June Zisk Co purchases raw materials on account. Budgeted purchase amounts are April, 595,000: May, $125,000, and June, $135,000 Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $37,000 Prepare a schedule of budgeted cash payments for April, May, and June. April May Current month purchases Ending accounts payable Total purchases 75% 25% 5 0 $ 05 0 Zink Co Schedule of Cash Payments For April May, and June April Cash payments for Current month purchases Prlor month purchases Budgeted cash payments for material May June 3 Karim Corp requires a minimum $8 800 cash balance Loans taken to meet this requirement cost interest per month paid monthly Any excess cash is used to repay loans at month-end. The cash balance on July 1 is 59,200, and the company has no outstanding loans Forecasted cash receipts (other than for loans received) and forecasted cash payments fother than for loan or interest payments) follow 33 Cash receipts Cash payments July ASE $24.000 532,000 29.200 30, 340,000 32,000 Book Prepare a cash budget for July August, and September (Negative balances and Loan repayment amounts if any should be indicated with minus sign. Round your final answers to the nearest whole dollar) HEM Drire KAINM CORP Candidat For July August and Selber July August 9.200 September There Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Loan balance $ Loan balance Beginning of month Additional loan (loan rupayment) Loan balance End of month