Question
The following is the sales budget for Coore, Inc., for the first quarter of 2019: Sales budget January February March $139,000 $156,000 $171,000 Credit sales
The following is the sales budget for Coore, Inc., for the first quarter of 2019:
Sales budget
January February March
$139,000 $156,000 $171,000
Credit sales are collected as follows:
60 percent in the month of the sale30 percent in the month after the sale10 percent in the second month after the saleThe accounts receivable balance at the end of the previous quarter was $98,000 ($80,400 of which was uncollected December sales).a.Compute the sales for November.(Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b.Compute the sales for December.(Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)c.Compute the cash collections from sales for each month from January through March.(Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
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