Jasper Company kind of has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are accumulated in full in the month complying with the sale. The firm forecasts sales of $524,000 for April, $534,000 for May, and also $559,000 for June. The beginning balance of Accounts Receivable is $292, 100 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and also June.
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|Sales on account||56%||293440||299040||313040|
|Cash Receipts Budget|
|For April, May, and June|
|Cash receipts from:|
|Collection of accounts receivable||292100||293440||299040|
|Total cash receipts||522660||528400||545000|
Concern & Answer: Jasper Company has sales on account and also for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit…..
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