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Why %uncollected in November Sales = 15% and December = 35% ?

The following is the sales budget for Shleifer, Inc., for

the first quarter of 2013:

January February March

Sales budget $234,800 $249,300 $271,000

Credit sales are collected as follows:

65 percent in the month of the sale.

20 percent in the month after the sale.

15 percent in the second month after the sale.

The accounts receivable balance at the end of the previous quarter was $106,800

($76,300 of which were uncollected December sales).

a. Compute the sales for November.

b. Compute the sales for December.

c. Compute the cash collections from sales for each month from January through

March

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shleifer Inc. Sales Budget January February March Total Credit Sales 234800 249300 271000 755100 Colections January February MarchTotal 30500 76300 January152620 46960 35220 234800 162045 49860 211905 176150 176150 226720 241705 261230 729655 November 30500 Decembe 43600 32700 February March Total November Sales 30500 0.15 203333 December Sales 76300 0.35 218000

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