Jasper Company has 62% of its sales on credit and 38% for cash. All credit sales are collected in full in the first month following thesale. The company budgets sales of $522,000 for April, $532,000 for May, and $557,000 for June. Total sales for March are$304,900.Prepare a schedule of cash receipts from sales for April, May, and June.SalesCash receipts from:Accounts receivableTotal cash receiptsJASPER COMPANYSchedule of Cash Receipts from SalesApril522,000May532,000June557,000

The cash collection schedule is prepared to estimate the cash collection from customers during the…

Answered: Jasper Company has 62% of its sales on…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PB: Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May,...

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Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February?
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Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $75,000 in June, $65,000 in July, and $90,000 in August?
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Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?
Jasper Company has 62% of its sales on credit and 38% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $527,000 for April, $537,000 for May, and $562,000 for June. Total sales for March are $296,400. 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 April May 527,000 537,000 June 562,000
Jasper Company has 57% of its sales on credit and 43% 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 $307,500. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Cash sales JASPER COMPANY Schedule of Cash Receipts from Sales April May Collections of prior period sales Total cash receipts 524,000 ***** 534,000 June 559,000
Jasper Company has 57% of its sales on credit and 43% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $518,000 for April, $528,000 for May, and $553,000 for June. Total sales for March are $293,600. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales April May June Sales 518,000 528,000 553,000 Cash receipts from: Total cash receipts
Jasper Company has 62% of its sales on credit and 38% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $517,000 for April, $527,000 for May, and $552,000 for June. Total sales for March are $302,000. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales April Sales Cash receipts from Cash sales Collections of prior period sales Total cash receipts 517,000 May 527,000 June 552,000

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