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 $517,000 for April, $527,000 for May, and $552,000 for June. Total sales for March are $302,000. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from Cash sales JASPER COMPANY Schedule of Cash Receipts from Sales April May Collections of prior period sales Total cash receipts 517,000 527,000 June 552,000

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 $517,000 for April, $527,000 for May, and $552,000 for June. Total sales for March are $302,000. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from Cash sales JASPER COMPANY Schedule of Cash Receipts from Sales April May Collections of prior period sales Total cash receipts 517,000 527,000 June 552,000

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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