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The following is the sales budget for Segura, Inc., for the first quarter of 2013: January February March Sales budget $141,000 $158,000 $173,000 Credit sales

The following is the sales budget for Segura, Inc., for the first quarter of 2013:

January February March
Sales budget $141,000 $158,000 $173,000

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

The accounts receivable balance at the end of the previous quarter was $97,750 ($71,050 of which was uncollected December sales).

Required:
(a)

Compute the sales for November. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Sales $

(b)

Compute the sales for December. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Sales $

(c)

Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

Cash Collection
January $
February $
March $

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