1.

Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern:

20% are collected in the month of sale; 50% are collected in the first month after sale; and 30% are collected in the

second month after sale. If sales for April, May, and June were $62,000, $82,000, and $72,000, respectively, what

were the firm's budgeted collections for April?

2.

Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern:

30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the

second month after sale. If sales for April, May, and June were $60,000, $80,000, and $70,000, respectively, what

were the firm's budgeted collections for June?

3.

Verna's makes all sales on account, subject to the following collection pattern: 25% are collected in the month of sale;

60% are collected in the first month after sale; and 15% are collected in the second month after sale. If sales for

October, November, and December were $80,000, $70,000, and $60,000, respectively, what was the budgeted

receivables balance on December 31?

*Please provide steps*