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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 $520,000 for April, $530,000 for May, and $555,000 for June. The beginning balance of Accounts Receivable is $291,400 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. June Cash sales Sales on account Total sales 42% $ 58% $ April 520,000 $ 301,600 821.600 $ May 530,000 $ 307 400 837.400 $ 555,000 321,900 878,900 May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from: Cash sales $ 520,000 $ Collection of accounts receivable Total budgeted cash receipts 530,000 $ 555,000 +