The following is the sales budget for the first quarter of 2020. Sales budget January $211,000 February $231,000 March $254,000

Credit Sales are collected as the following 75 percent in the month of the sale 20 percent in the month after the sales 5 percent in the second month after the sale

1. Calculate the sales for November and December 2. Calculate cash collection from sale in January.

Te accounts receivable balance at the end of the previous quarter was $95,000 which $65,000 was uncollected December sales.