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The following is the sales budget for Tesoro Azul, Inc., for the first quarter of 2016: Credit sales are collected as follows: 65 percent in
The following is the sales budget for Tesoro Azul, Inc., for the first quarter of 2016: 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 exist95.750 (exist69.650 of which was uncollected December sales). a. Compute the sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales exist b. Compute the sales for December (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales exist c. Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g 32.)
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