Jasper Company has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $525,000 for April, $535,000 for May, and $560,000 for June. The beginning balance of Accounts Receivable is $306,200 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June Cash sales Sales on account Total sales 44% $ 56% $ April 231,000 $ 294,000 525,000 $ May 235.400 $ 299,600 535,000 $ June 246,400 313,600 560,000 May June JASPER COMPANY Schedule of Cash Recept For April, May, and June April Cash receipts from Cash sales $ 231,000 5 Collection of accounts receivable Total budgeted cash receipts 235,400 5 246,400