Jasper Company has 62% of its sales on credit and 38% 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 $296,400. 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 527,000 May 537,000 June 562,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Jasper Company has 62% of its sales on credit and 38% 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 $296,400.
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
527,000
537,000
June
562,000
Transcribed Image Text:Jasper Company has 62% of its sales on credit and 38% 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 $296,400. 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 527,000 537,000 June 562,000
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