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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
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 $522,000 for April, $532,000 for May, and $557,000 for June. The beginning balance of Accounts Receivable is $308,600 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May Cash sales 36% Sales on account 64% Total sales 0 $ 0 Cash receipts from: Cash sales EA June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May June Collection of accounts receivable Total budgeted cash receipts 0
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