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 $532,000 for April, $542,000 for May, and $567,000 for June. The beginning balance of Accounts Receivable is $306,900 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 42% Sales on account 58% Total sales 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 Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $98,000; May, $128,000; and June, $138,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $40,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases 70% Ending accounts payable 30% Total purchases Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials Foyert Corp. requires a minimum $7,900 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $7,900 and the company has an outstanding loan of $3,900. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments October $23,900 26,850 November $17,900 16,900 December $21,900 14,100 Prepare a cash budget for October, November, and December. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) Prepare a cash budget for October, November, and December. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) FOYERT CORP. Cash Budget For October, November, and December October November December Beginning cash balance $ 7,900 Total cash available Preliminary cash balance Ending cash balance Loan balance $ 3,900 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month