Solution-Determine estimated total cash collections by

Determine estimated total cash collections by Fresplanade Co

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Reference no: EM133092027

Question - Fresplanade Co. had the following historical collection pattern for its credit sales:

-75% collected in the month of sale.

-12% collected in the first month after month of sale.

-8% collected in the second month after month of sale.

-3% collected in the third month after month of sale.

-2% uncollectible.

The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below:

July	$72,000
August	$84,000
September	$96,000
October	$108,000
November	$120,000
December	$102,000

Required - Determine the estimated total cash collections by Fresplanade Co. during October from accounts receivable?

Reference no: EM133092027

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Determine estimated total cash collections by Fresplanade Co

Reference no: EM133092027

Reference no: EM133092027

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