Reference no: EM132421026

The director of budgeting for Bond Products is beginning the process of preparing a cash budget for each month of the coming year. The sales forecast for the month of January is as follows:

Estimated Cash Sales$90,000Estimated Credit Sales$680,000

In the past, the accounts receivable originating from credit sales have been collected in the following pattern:

In the month of sale                                                       20%

In the first month following the sale                                 50%

In the second month following the sale                             30%

Credit sales in the last two months of the current year, some of which remain uncollected at year-end, were as follows:

November$580,000 December$730,000

Compute the amount of cash expected to be collected from customers in January of the coming year.