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Question - The following is the sales budget for Coore, Inc., for the first quarter of 2019:
January February March
Sales budget $132,000 $149,000 $164,000
Credit sales are collected as follows: 55 percent in the month of the sale 25 percent in the month after the sale20 percent in the second month after the sale
The accounts receivable balance at the end of the previous quarter was $121,100 ($87,300 of which was uncollected December sales).
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.
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