Solution-How compute the estimated total cash collections

How compute the estimated total cash collections

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Reference no: EM132596589

Historical collection pattern for its credit sales:

70% collected in the month of sale

15% collected in the first month after sale

10% collected in the second month after sale

4% collected in the third month after sale

1% uncollectible

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

June $49,000

July 60,000

August 70,000

Sept 80,000

Oct 90,000

Nov 100,000

Dec 85,000

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: EM132596589

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How compute the estimated total cash collections

Reference no: EM132596589

Reference no: EM132596589

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