The following is the sales budget for Segura, Inc., for the first quarter of 2013:
|
January |
February |
March |
| Sales budget |
$136,000 |
$153,000 |
$168,000 |
|
| Credit sales are collected as follows: |
|
| 55 percent in the month of the sale |
| 25 percent in the month after the sale |
| 20 percent in the second month after the sale |
|
The accounts receivable balance at the end of the previous quarter was $123,700 ($89,100 of which was uncollected December sales).
|
| (a) |
Compute the sales for November. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
|
| (b) |
Compute the sales for December. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
|
| (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 |
$ |
|