Jasper Company has 63% of its sales on credit and 37% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $528,000 for April, $538,000 for May, and $563,000 for June. Total sales for March are $298,200. 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 528,000 538,000 June 563,000
Jasper Company has 63% of its sales on credit and 37% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $528,000 for April, $538,000 for May, and $563,000 for June. Total sales for March are $298,200. 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 528,000 538,000 June 563,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Jasper Company has 63% of its sales on credit and 37% for cash. All credit sales are collected in full in the first month following the
sale. The company budgets sales of $528,000 for April, $538,000 for May, and $563,000 for June. Total sales for March are
$298,200.
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
528,000
May
538,000
June
563,000
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