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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:
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.) |
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