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 $519,000 for April, $529,000 for May, and $554,000 for June. Total sales for March are $300,400. Prepare a schedule of cash receipts from sales for April, May, and June.

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 $519,000 for April, $529,000 for May, and $554,000 for June. Total sales for March are $300,400. Prepare a schedule of cash receipts from sales for April, May, and June.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter10: Accounting For Sales And Cash Receipts

Section10.4: Posting From A Cash Receipts Journal

Problem 1AYU

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