Compute the sales for November

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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

$143,000

$160,000

$175,000

Credit sales are collected as follows:

-60 percent in the month of the sale

-30 percent in the month after the sale

-10 percent in the second month after the sale

The accounts receivable balance at the end ofthe previous quarter was $100,000 ($82,000 of which was uncollected December sales).

Required -

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.

Reference no: EM133076281

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