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The following is the sales budget for Profit, Inc., for the first quarter of 2018: January February March Sales budget $ 216,000 $ 236,000 $

The following is the sales budget for Profit, Inc., for the first quarter of 2018:

January February March
Sales budget $ 216,000 $ 236,000 $ 259,000

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 $100,000 ($70,000 of which was uncollected December sales).

a. Calculate the sales for November. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. Calculate the sales for December. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
c. Calculate 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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