Jasper Company has sales on account and for cash. Specifically, 64% of its sales are on account and 36% 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 $296,000 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. Cash sales Sales on account 36% $ 64% April 192,240 S 341,760 534,000 $ May 195,840 s 348, 160 544,000 $ June 204,840 369,850 574,690 Total sales S May June JASPER COMPANY Schedule of Cash Receipts For April May, and June April Cash receipts from Cash sales S 192.240 $ Collection of accounts receivable 296.000 Total budgeted cash receipts S 488 240 195,840 $ 204,840