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 $532,000 for April, $542,000 for May, and $567,000 for June. The beginning balance of Accounts Receivable is $303,800 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June, April May June Cash sales Sales on account Total sales 36% 64% JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts Help Save & Exit Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $100,000; May, $130,000, and June, $140,000 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 $42.000. Prepare a schedule of budgeted cash payments for April, Moy, and June. April May June Current month purchases Ending accounts payable Total purchases 75% 25% Zisk Co Schedule of Cash Payments For April May, and June April Cash payments for Current month purchases Prior month purchases Budgeted cash payments for materials May June