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The following is the sales budget for Shleifer, Inc., for the first quarter of 2013: January February March Sales budget $205,000 $225,000 $248,000 Credit sales

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

JanuaryFebruaryMarch
Sales budget$205,000$225,000$248,000


Credit sales are collected as follows:
75 percent in the month of the sale.
20 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 $89,000 ($59,000 of which was uncollected December sales).

a. Calculate the sales for November. (Do not round intermediate calculations. Enter your answer in whole dollars (e.g., 32).)

November sales$ _____

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

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