Compute the cash collections from sales for each month from

Reference no: EM13572615

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).

Required:

(a)	Compute the sales for November. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Sales

(b)	Compute the sales for December. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Sales

(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	$

Reference no: EM13572615

Questions Cloud

Youve worked out a line of credit arrangement that allows : youve worked out a line of credit arrangement that allows you to borrow up to 60 million at any time. the interest rate

Forrests gameboards company manufactures games in three : forrests gameboards company manufactures games in three departments using a process cost system with an average cost

Indicate the amount and nature favorable or unfavorable of : standard cost s and actual costs for direct materials direct labor and factory overhead for the manufacture of 250

Topic the development of political reasoning in children : topic the development of political reasoning in children10-page research paperall papers must include the

Compute the cash collections from sales for each month from : the following is the sales budget for segura inc. for the first quarter of 2013 januaryfebruarymarchnbspnbspsales

Which is an advantage of corporations relative to : which is an advantage of corporations relative to partnerships and sole proprietorships?a lower taxes.b harder to

A company issued 5 20-year bonds with a face amount of 80 : a company issued 5 20-year bonds with a face amount of 80 million. the market yield for bonds of similar risk and

Suppose a firm has net income of 50 dividends of 15 assets : suppose a firm has net income of 50 dividends of 15 assets of 1200 and a debt-equity ratio of 3.5. what is the

The financial statements for joseph corporation contained : the financial statements for joseph corporation contained the following information.accounts receivable5000sales

User Account

All Pages