(Answered) Budgeted sales for the first quarter of the year for the

Finance

Budgeted sales for the first quarter of the year for the Delta Company are as follows:

]Budgeted Sales
January ........$400,000
February .......$200,000
March.........$600,000

1.The Company normally collects 60% in the month of sale and 30% in the month following the sale. Ten percent of all sales are uncollectible and are written off in the following month.

2.The balance in accounts receivable at January 1 was $100,000, which represents 40% of December sales.

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