Answer:
Jasper Company
Cash Receipts Budget for April, May, and June:
                                         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
Explanation:
1. Cash Receipts Budget shows the estimated cash receipts from customers and other sources.
2. 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.