The following is the sales budget for Shleifer, Inc. for the first quarter of 2019: January February
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The following is the sales budget for Shleifer, Inc. for the first quarter of 2019: January February March Sales budget $202,000 $222,000 $245,000 Credit sales are charged as follows: 60 percent in the month of purchase 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 prior quarter was $86,000 ($56,000 of which was uncollected December sales).
a. Calculate sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, for example, 32.)
b. Calculate the sales for December. (Do not round intermediate calculations and round your answer to 2 decimal places, for example, 32.16.)
c. Calculate the cash receipts from sales for each month from January to March. (Do not round intermediate calculations and round your answers to 2 decimal places, for example, 32.16.)
a. Calculate sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, for example, 32.)
b. Calculate the sales for December. (Do not round intermediate calculations and round your answer to 2 decimal places, for example, 32.16.)
c. Calculate the cash receipts from sales for each month from January to March. (Do not round intermediate calculations and round your answers to 2 decimal places, for example, 32.16.)
Related Book For
Corporate Finance Core Principles and Applications
ISBN: 978-0077905200
3rd edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
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