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The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022: The accounts receivable balance at the end of the previous

The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022:

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The accounts receivable balance at the end of the previous quarter was $81,000 ($59,000 of which were uncollected December sales).

a. Compute the sales for November. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. Compute the sales for December. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
c. Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
image text in transcribed Credit sales are collected as follows: 65 percent in the month of the sale. 20 percent in the month after the sale. 15 percent in the second month after the sale. \begin{tabular}{|l|l|} \hline a. November sales & \\ \hline b. December sales & \\ \hline c. January collections & \\ \hline c. February collections & \\ \hline c. March collections & \\ \hline \end{tabular}

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