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The following is the sales budget for Trickle, Inc. for the first quarter of 2009.
Jan – $235,000
Feb – $260,000
March – $295,000
Credit sales are collected as follows:
65% in month of sale
20% in month after sale
15% in 2nd month after sale
The A/R balance at the end of the previous quarter was $173,000 ($136,000 of which was uncollected December sales).
A) Compute Sales for November
B) Compute Sales for December
C) Compute the Cash collections from sales for ech month from Jan – March