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Prepare a schedule of budgeted cash receipts

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Problem - Jasper Company has sales on account and for cash. Speci?cally. 53% of its sales are on account and 42% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $531,000 for April, $541.000 for May, and $566,000 for June. The beginning balance of Accounts Receivable is $294,500 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June.

Reference no: EM132639677

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