The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022: January $ 130,000 February $ 147,000 Sales budget Credit sales are collected as follows: March $ 162,000 70 percent in the month of the sale. 25 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 $65,950 ($57,600 of which was uncollected December s a. Compute the sales for November. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. b. Compute the sales for December. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. c. Compute the cash collections from sales for each month from January through March. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.