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The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: January $215,000 February $ 235,000 March $258,000 Sales Credit sales
The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: January $215,000 February $ 235,000 March $258,000 Sales Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales $ c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Cash collections $ January February March $ $
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