a. What were the December sales? 

b. How much did the firm collect in the months of February and March?

c. What was the ending balance of accounts receivable for March?

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2021: The following is the sales budget for Uptown Rentals, Inc. for the first quarter of Sales budget January $136.000 February $148.000 Credit sales are collected as follows: 60 percent in the month of sale 32 percent in the month after the sale 8 percent in the second month after the sale March $153,000 The accounts receivable balance at the end of the previous quarter was $87,040 ($73,600 of which was uncollected December sales). 2021: The following is the sales budget for Uptown Rentals, Inc. for the first quarter of Sales budget January $136.000 February $148.000 Credit sales are collected as follows: 60 percent in the month of sale 32 percent in the month after the sale 8 percent in the second month after the sale March $153,000 The accounts receivable balance at the end of the previous quarter was $87,040 ($73,600 of which was uncollected December sales).

Answer rating: 100% (QA)

a The uncollected December sales were 573600 and this represents 40 of the total December sales Ther... View the full answer