asper 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 ale. The company budgets sales of $523,000 for April, $533,000 for May, and $558,000 for June. Total sales for March are 308,300. Prepare a schedule of budgeted cash receipts for April, May, and June. Cash sales Sales on account Total sales Cash receipts from: Cash sales 43% 57% $ Collection of accounts receivable Total cash receipts April $ JASPER COMPANY Schedule of Cash Receipts April May May 0 $ June June 0

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 $523,000 for April, $533,000 for May, and $558,000 for June. Total sales for March are
$308,300.
Prepare a schedule of budgeted cash receipts for April, May, and June.
Cash sales
Sales on account
Total sales
43%
57%
$
Cash receipts from:
Cash sales
Collection of accounts receivable
Total cash receipts
April
0 $
JASPER COMPANY
Schedule of Cash Receipts.
April
May
May
0 $
June
June
0
Transcribed Image Text: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 $523,000 for April, $533,000 for May, and $558,000 for June. Total sales for March are $308,300. Prepare a schedule of budgeted cash receipts for April, May, and June. Cash sales Sales on account Total sales 43% 57% $ Cash receipts from: Cash sales Collection of accounts receivable Total cash receipts April 0 $ JASPER COMPANY Schedule of Cash Receipts. April May May 0 $ June June 0
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