Jasper Company has sales on account and for cash. Specifically, 57% of its sales are...
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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 $526,000 for April, $536,000 for May, and $561,000 for June. The beginning balance of Accounts Receivable is $293,700 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June.
April May June Cash sales 43% Sales on account 57% Total sales $ $ 0 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
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