Jasper Company has sales on account and for cash. Specifically, 57% of its sales are on account and 43% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $518,000 for April $528,000 for May, and 553,000 for June. The beginning balance of Accounts Receivable is $309,200 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April June May f Cash sales Sales on account Total sales 43% 57% JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from Cash sales Collection of accounts receivable May June Total budgeted cash receipts Zisk Co. purchases raw materials on account Budgeted purchase amounts are: April, $83.000, May, $113,000, and June, $123,000. 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 $25,000 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 May June 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