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The following is the sales budget for Harp, Inc., for the first quarter of 2015: January February March Sales budget $ 204,000 $ 224,000 $

The following is the sales budget for Harp, Inc., for the first quarter of 2015:

January February March
Sales budget $ 204,000 $ 224,000 $ 247,000

Credit sales are collected as follows:

65 percent in the month of the sale
30 percent in the month after the sale
5 percent in the second month after the sale

The accounts receivable balance at the end of the previous quarter was $88,000 ($58,000 of which was uncollected December sales).

a. Calculate the sales for November. (Round your answer to 2 decimal places, e.g., 32.16.)

November sales $

b. Calculate the sales for December. (Round your answer to 2 decimal places, e.g., 32.16.)

December sales $

c.

Calculate the cash collections from sales for each month from January through March.(Round your answers to 2 decimal places, e.g., 32.16.)

Cash collections
January $
February $
March $

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