Jasper Company has 59% of its sales on credit and 41% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $521,000 for April, $531,000 for May, and $556,000 for June. Total sales for March are $307,100. 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 521,000 531,000 June 556,000
Jasper Company has 59% of its sales on credit and 41% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $521,000 for April, $531,000 for May, and $556,000 for June. Total sales for March are $307,100. 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 521,000 531,000 June 556,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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