Q.6

Jasper Company has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $517,000 for April, $527,000 for May, and $552,000 for June. The beginning balance of Accounts Receivable is $291,900 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June.

April May June Cash sales 44% Sales on account 56% Total sales JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May June Cash receipts fronm Cash sales Collection of accounts receivable Total budgeted cash receipts