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
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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![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
April
May
$
524,000
204,360 $.
534,000
208,260 $
June
559,000
218,010](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F46f0c4de-64fa-46ea-86ba-52086cfc6798%2F8b702aa5-ab75-4a68-8889-0a3db6665419%2Fekehsvn_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
April
May
$
524,000
204,360 $.
534,000
208,260 $
June
559,000
218,010
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