Calculating Cash Collections. The following is the sales budget for Segura, Inc., for the first quarter of 2010:
| January | February | March |
Sales budget | $129,000 | $146,000 | $161,000 |
Credit sales are collected as follows:
65 percent in the month of the sale
20 percent in the month after the sale
15 percent in the second month after the sale
The accounts receivable balance at the end of the previous quarter was $92,000 ($67,000 of which was uncollected December sales).
a. Compute the sales for November.
b. Compute the sales for December.
c. Compute the cash collections from sales for each month from January through March.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.