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You have been hired as the controller at Alfit, a distributor of exercise equipment. The...

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Accounting

You have been hired as the controller at Alfit, a distributor of exercise equipment. The manager has provided you with the following financial information to start preparing the budget for the upcoming month:
a) Cash balance at December 1 is $40,000.
b) Actual sales for October and November and budgeted sales for December are shown below. Sales on account are collected over a three-month period: 20% in the month of sale, 60% in the month following the sale, and 18% collected in the second month following the sale. The remaining 2% is uncollectible.
\table[[,October,November,December],[Cash Sales,$65,000,$70,000,$83,000
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