Kindly dont give handwritten answers thanku esThe following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022:February$ 225,000January$ 205,000Sales budgetCredit sales are collected as follows:75 percent in the month of the sale.20 percent in the month after the sale.5 percent in the second month after the sale.March$248,000The accounts receivable balance at the end of the previous quarter was $89,000($59,000 of which were uncollected December sales).a. Compute the sales for November. (Do not round intermediate calculations andround your answer to the nearest whole number, e.g., 32.)b. Compute the sales for December. (Do not round intermediate calculations andround your answer to 2 decimal places, e.g., 32.16.)c. Compute the cash collections from sales for each month from January through March.(Do not round intermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.)

calculation of sale for November and sale of December and cash collection from sale for each month…

The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022: February $225,000 March $248,000 January $ 205,000 Sales budget Credit sales are collected as follows: 75 percent in the month of the sale. 20 percent in the month after the sale. 5 percent in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $89,000 FF0000-firbt allected December calor!

The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022: February $225,000 March $248,000 January $ 205,000 Sales budget Credit sales are collected as follows: 75 percent in the month of the sale. 20 percent in the month after the sale. 5 percent in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $89,000 FF0000-firbt allected December calor!

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter22: Budgeting

Section: Chapter Questions

Problem 1PB: Forecast sales volume and sales budget Sentinel Systems Inc. prepared the following sales budget for...

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