# 12 & 13

the correct answers are circled, but im not sure how to solve.

8.200 2012 Use the following information for questions 12 and 13. Izs, Inc. manufactures and sells water quilts for waterbeds. Kriz's actual and estimated sales for the first six months of this year are as follows: December - last year (actual) $1,000 January (actual) 1,000 February (actual) 2,000 March (estimated) 3,000 April (estimated) 4,000 May (estimated) 3,000 June (estimated) 2,000 Cash sales account for 10% of total sales. Credit sales are collected 40% in the month of sale, 30% in the month following sale, 25% in the second month following sale, and 5% is uncollectible. 12. 1400 What will Kriz's budgeted cash collections from sales be in March and April? March April 300 400 $1,550 $2,300 1900 u00 $2,350 $3,350 900 $2,145 $3,100 $2,200 $3,150 none of the above 2.50 13. What is Kriz's expected net accounts receivable balance (after deducting the allowance for uncollectible accounts) on the June 30 budgeted balance sheet? A. $2,850 C. $3,195 D. $1,890 B. $2,250 $1,665