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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AprilMayJune
Cash sales44%230560234960245960
Sales on account56%293440299040313040
Total sales524000534000559000
JASPER COMPANY
Cash Receipts Budget
For April, May, and June
AprilMayJune
Cash receipts from:
Cash sales230560234960245960
Collection of accounts receivable292100293440299040
Total cash receipts522660528400545000

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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