15 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $ 107,000 ($78,100 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. 11. Calculating the Cash Budget Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. May April June $689,000 302.000 $598,000 282,000 $751,000 338.000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 137,000 15,600 53,500 129,000 15,600 6,600 179,000 15,600 248,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the re- maining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000. Using this information, com- plete the following cash budget: April May June $182,000 Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance 289,000 12. Calculating Cash Collections The Doak Company has projected the following quarterly sales amounts for the coming year: O words Question 19 Suppose City Cycles Incorporated finds that it costs $40 to manufacture each bicycle, and fixed costs are $100 per day. The price function is p(x) = 280 - 302, where p is the price in dollars) at which exactly x bicycles will be sold. Find the quantity City Cycles should produce to maximize profit Write your solution on paper and show all steps to get full credit Upload after you finish the exam by going to Part 2 HTML Editor BIVA-HI EX31XX, E. BOV ET 112pt Paragraph MacBook Pro ER True F TG