Jasper Company Cash Receipts Budget shows the estimated cash receipts from customers and other sources.
<h3>Cash Receipts Budget for April, May, and June:</h3>
                    April      May       June       Total
Cash Sales 30%    $157,500   $160,500   $168,000    $486,000
Credit Sales 70%    400,000   367,500    374,500    1,142,000
Total             $557,500  $528,000  $542,500  $1,628,000
 Calculations:
a) Cash Sales for April = 30% of April Sales = 30% * $525,000 = $157,500. The difference of 70% is received in May.
b) Sales received on account for April = 100% of Accounts Receivable = $400,000.
c) Cash Sales for May = 30% of April Sales = 30% * $535,000 = $160,500. The difference of 70% is received in June.
d) Cash Sales for June = 30% of April Sales = 30% * $560,000 = $168,000. The difference of 70% is received in July.
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