?6h https:/ Q Search HW Chapter 20 6 5 Exercise 20-18 Budgeted cash receipts LO

Question

?6h https:/ Q Search HW Chapter 20 6 5 Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 70% of its sales are on collected in full in the month following the sale. The company for June. The beginingbalance of Accounts Receivables of s525.000 for Apri, $535,000 for May,and $560000 Prepare a schedule of budgeted cash receipts for April, May. and June. account and 30% are for cash, Credit sales are May June Print 30% 70% For April, May, and June June

Explanation / Answer

Solution 5:

Solution 6:

Computation of Total Sales Particulars April May June Cash Sales (30%) $157,500.00 $160,500.00 $168,000.00 Sales on Account (70%) $367,500.00 $374,500.00 $392,000.00 Total Sales $525,000.00 $535,000.00 $560,000.00

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