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Accounting

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5.)
Jasper Company has sales on account and for cash. Specifically, 58% 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 $532,000 for April, $542,000 for May, and $567,000 for June. The beginning balance of Accounts Receivable is $299,900 on April 1. 
Prepare a schedule of budgeted cash receipts for April, May, and June. 
 

6.)

Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $100,000; May, $130,000; and June, $140,000. Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $42,000. 
Prepare a schedule of budgeted cash payments for April, May, and June.