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 $527,000 for April, $537,000 for May, and $562,000 for June. The beginning balance of Accounts Receivable is $303,500 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. May June Cash sales Sales on account Total sales 40% $ 60% $ April 205.400 309,600 516,000 $ 0 $ 0 May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from Cash sales S 205,400 Collection of accounts receivable Total budgeted cash receipts