Business, 03.06.2021 16:00 mccartney33

Following is the sales budget for Coore, Inc., for the first quarter of 2019. January February March
Sales budget $168,000 $186,000 $199,000

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 $107,000 ($78,100 of which was uncollected December sales)

Requried:
a. Compute the sales for November.
b. Compute the sales for December.
c. Compute the cash collections from sales for each month from January through March.

Answers: 2

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Following is the sales budget for Coore, Inc., for the first quarter of 2019. January February Marc...