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Calculate estimated cash collections for month of september

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Reference no: EM132949086

Problem 1: The regular pattern of collection of credit sales is 40% in the month of sale, 40% in the month following the month of sale, and the remainder in the next month. Calculate estimated cash collections for the month of September.

                             July                August               September             October

Cash sales........     $ 80,000        $ 70,000             $ 40,000                $ 60,000
Credit sales......     $240,000      $220,000             $180,000                   $200,000

Reference no: EM132949086

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