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 42% 58% Total sales S 0 $ ols 0 May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from Cash sales Collection of accounts receivable Total budgeted cash receipt 3 Any excess cash is used to repay loans at month-end. The cash balance on July 1is $9,200, and the company has no outstanding loans Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than forloan or interest payments) follow 033 points Cash receipts Cash payments 324,100 39,200 August $12,800 30,000 September $40,00 32,800 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.) Answer is not complete MOM CORR Cash Forty. At and September August S 9.200 0.000 26.000 2 300 34.000 41.600 29.000 30 800 Beginning cash balance Cash receipts Total cash available Cash payments September 00 40 300 45.600 32,000 Preliminary cash balance 5 5000 Ending cash balance Loan balance Loan balance Beginning of month s 0 Additional loan repay Loan balance End of month