Solution-Compute the estimated total cash collections

Compute the estimated total cash collections during quarter

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Reference no: EM132632630

Coyote Loco, Inc., a distributor of salsa, has the following historical collection pattern for its credit sales.

70 percent collected in the month of sale.

15 percent collected in the first month after sale.

10 percent collected in the second month after sale.

4 percent collected in the third month after sale.

1 percent uncollectible.

The sales on account have been budgeted for the last seven months as follows:

June$126,500

July 154,000

August 179,000

September 208,000

October 233,000

November 258,000

December 220,500

Required:

Question 1: Compute the estimated total cash collections during October from credit sales.

Question 2: Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter.

Reference no: EM132632630

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Compute the estimated total cash collections during quarter

Reference no: EM132632630

Reference no: EM132632630

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