Business, 09.04.2021 02:40 unknown6669

Hodge Co. sells merchandise on account and for cash. Specifically, 55% of Hodge's sales are on account and 45% are for cash. Credit sales are collected in full in the month following the sale. Hodge predicts sales of $530,000 for April, $540,000 for May, and $565,000 for June. The beginning balance of Accounts Receivable is $294,400 on April 1st. Prepare a schedule of budgeted cash receipts for April, May, and June.
April May June Cash sales 45% Sales on account 55% Total sales
JASPER COMPANY
Schedule of Cash Receipts
For April, May, and June
April May June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts

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Hodge Co. sells merchandise on account and for cash. Specifically, 55% of Hodge's sales are on accou...

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