Dacahr bros inc is an automobile maintenance and repair

Assignment Help Accounting Basics

Reference no: EM13595359

Dacahr Bros., Inc., is an automobile maintenance and repair company with outlets throughout the western United States. Henley Turlington, the company controller, is starting to assemble the cash budget for the fourth quarter. Projected sales for the quarter are as follows
Credit

Oct 457000
Nov 590000
Dec 720500

Cash

Oct 196800
Nov 214000
Dec 218400

Cash collection records pertaining to sales on account indicate the following collection pattern:

Month of sale 40%
First month following sales 30%
Second month following sales 28%
Uncollectible 2%

Sales on account during August were $346,000. During September, sales on account were $395,000. Compute the amount of cash to be collected from customers during each month of the fourth quarter.
Total Cash Collected from Customers

October
November
December

Reference no: EM13595359

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