Jasper Company has sales on account and for cash. Specifically, 60% of its sales are on account and 40% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $530,000 for April, $540,000 for May, and $565,000 for June. The beginning balance of Accounts Receivable is $308,400 on April 1.

Prepare a schedule of budgeted cash receipts for April, May, and June.

		April	May	June
Cash sales	40%
Sales on account	60%
Total sales		$530,000	$540,000	$565,000
JASPER COMPANY
Cash Receipts Budget
For April, May, and June
		April	May	June
Cash receipts from:
Cash sales
Collection of accounts receivable
Total cash receipts