1. 10.

Calculating cash collections [LO 18.3] The following is the sales budget for Ettalong Getalong Foods for the first quarter of 2020:

January February March Sales budget $196 000 $215 000 $236 000 Credit sales are collected as follows:
65 per cent in the month of the sale 20 per cent in the month after the sale 15 per cent in the second month after the sale.
The accounts receivable balance at the end of the previous quarter was $87 000 ($61 000 of which was uncollected December sales).
1. Compute the sales for November.
2. Compute the sales for December.
3. Compute the cash collections from sales for each month from January through March.