### Calculate the sales for december

Assignment Help Accounting Basics
##### Reference no: EM131013641

The following is the sales budget for Shleifer, Inc., for the first quarter of 2013:

 January February March Sales budget \$ 205,000 \$ 225,000 \$ 248,000

Credit sales are collected as follows:

75 percent in the month of the sale.
20 percent in the month after the sale.
5 percent in the second month after the sale.

The accounts receivable balance at the end of the previous quarter was \$89,000 (\$59,000 of which was uncollected December sales).

a. Calculate the sales for November. (Do not round intermediate calculations. Enter your answer in whole dollars (e.g., 32).)

November sales:\$

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

December sales:\$

c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

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