Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the fiest 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 $302.600. Prepare a schedule of cash receipts from sales for April, May, and June. O Answer is not complete. JASPER COMPANY Schedule of Cash Receipts from Sales April May June 537,000 562,000 Sales Cash receipts from: 527,000 Cash sales OS 205,530 $209.430 O S 219.180 Collections of prior period sales 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 fiest 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 $302.600. Prepare a schedule of cash receipts from sales for April, May, and June. O Answer is not complete. JASPER COMPANY Schedule of Cash Receipts from Sales April May June 537,000 562,000 Sales Cash receipts from: 527,000 Cash sales OS 205,530 $209.430 O S 219.180 Collections of prior period sales Total cash receipts

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PB: Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May,...

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Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?