Exercise 22-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on account and 41% are for cash Credit sales are collected in full in the month following the sale. The company forecasts sales of $515,000 for April, $525,000 for May, and $550,000 for June The beginning balance of Accounts Receivable is $299,600 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales 4196 Sales on account 5996 Total sales S 0 $ 0 S JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts