Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. the following is the sales budget for tesoro azul,

The following is the sales budget for Tesoro Azul, Inc., for the first quarter of...

90.2K

Verified Solution

Question

Finance

The following is the sales budget for Tesoro Azul, Inc., for the first quarter of 2016: January February March Sales budget $141,000 $158,000 $173,000 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 $97,750 ($71,050 of which was uncollected December sales). a. Compute the sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales $ b. Compute the sales for December. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales $ c. Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Cash Collection January $ February $ March $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Two professors at a local college developed a new teaching curriculum designed to increase​ students' grades...

Biology
1.2K views

which isolation technique will be lest suitable to the isolation of salmonella typhi? streak plate, pour...

Finance
1.2K views

In 1895, the first a sporting event was held. The winner's prize money was $130. In...

Physics
1.2K views

There are a number of reasons why professional astronomers locate their telescopes on the tops of...

Electrical Engineering
1.2K views

For three resistors, R1, R2, and R3, sketch the schematic for the circuit if all three...

Biology
1.2K views

Dr Kiem discussed in some detail the Berlin patient who was HIV leukemia patient and...

Physics
1.2K views

System shown in the figure is released from rest Pulley and spring are massless and...

Accounting
1.2K views

The following facts apply to Collins, an individual: In February of the current year, Hodge,...

Accounting
1.2K views

Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for...

Accounting
1.2K views

Mention and Explain the major flaws of AICPA code of professional conduct ?

Finance
1.2K views

Summers, Inc., is an unlevered firm with expected annual earnings before taxes of $26.1 million...

Accounting
1.2K views

I will leave a thumbs up, thank you for the help! Exercise 14-2 (Algo)...