Prepare a schedule of budgeted cash receipts for April, May, and June. Jasper...
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Accounting
Prepare a schedule of budgeted cash receipts for April, May, and June.
Jasper Company has sales on account and for cash. Specifically, 62% of its sales are on account and 38% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $518,000 for April, $528,000 for May, and $553,000 for June. The beginning balance of Accounts Receivable is $296,200 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 38% Cash sales Sales on account 62% Total sales $ 0 $ 0 $ May June JASPER COMPANY Schedule of Cash Receipts For April, May, and June April Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts
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