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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 $527,000 for April, $537,000 for May, and $562,000 for June. Total sales for March are $309,300. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales Sales April 527,000 May June 537,000 562,000 Cash receipts from: Cash sales Collections of prior period sales 205,530 $ 0 209,430 $ 219,180 Total cash receipts

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 $527,000 for April, $537,000 for May, and $562,000 for June. Total sales for March are $309,300. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales Sales April 527,000 May June 537,000 562,000 Cash receipts from: Cash sales Collections of prior period sales 205,530 $ 0 209,430 $ 219,180 Total cash receipts

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 $527,000 for April, $537,000 for May, and $562,000 for June. Total sales for March are $309,300. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales Sales April 527,000 May June 537,000 562,000 Cash receipts from: Cash sales Collections of prior period sales 205,530 $ 0 209,430 $ 219,180 Total cash receipts
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 $527,000 for April, $537,000 for May, and $562,000 for June. Total sales for March are $309,300. Prepare a schedule of cash receipts from sales for April, May, and June. JASPER COMPANY Schedule of Cash Receipts from Sales Sales April 527,000 May June 537,000 562,000 Cash receipts from: Cash sales Collections of prior period sales 205,530 $ 0 209,430 $ 219,180 Total cash receipts
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