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The following is the sales budget for Tesoro Azul Inc for the first quarter of 2016 January February March Sales budget $143 000 $160000 $175000 Credit sales are collected as follows 60 percent

The following is the sales budget for Tesoro Azul, Inc., for the first quarter of 2016: 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 of the previous quarter was $100,000 ($82,000 of which was uncollected December sales). a. Compute the sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales $ b. Compute the sales for December. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales $ c. Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Cash Collection January $ February $ March $

 

Apr 05 2020 Read more Less More

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