Jasper Company has sales on account and for cash. Specifically, 56% of its sales are on account and 44% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $524,000 for April, $534,000 for May, and $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 June.
| April | May | June | ||
| Cash sales | 44% | 230560 | 234960 | 245960 |
| Sales on account | 56% | 293440 | 299040 | 313040 |
| Total sales | 524000 | 534000 | 559000 | |
| JASPER COMPANY | ||||
| Cash Receipts Budget | ||||
| For April, May, and June | ||||
| April | May | June | ||
| Cash receipts from: | ||||
| Cash sales | 230560 | 234960 | 245960 | |
| Collection of accounts receivable | 292100 | 293440 | 299040 | |
| Total cash receipts | 522660 | 528400 | 545000 | |
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