1 Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $524,000 for April, $534,000 for May, and $559,000 for June. Total sales for March are $293,400. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales May April 524,000 $ 204,360 $. 534,000 208,260 $ June 550,000 218,010

1 Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $524,000 for April, $534,000 for May, and $559,000 for June. Total sales for March are $293,400. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales May April 524,000 $ 204,360 $. 534,000 208,260 $ June 550,000 218,010

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9EB: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%...

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