Jasper Company has 55% of its sales on credit and 45% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $533,000 for April, $543,000 for May, and $568,000 for June. Total sales for March are $294,900. 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 Collections of prior period sales Total cash receipts 533,000 May 543,000 June 568,000
Jasper Company has 55% of its sales on credit and 45% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $533,000 for April, $543,000 for May, and $568,000 for June. Total sales for March are $294,900. 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 Collections of prior period sales Total cash receipts 533,000 May 543,000 June 568,000
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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