Reference no: EM132510908

Fiscal Company has the following sales budget for the last six months of 2013:

July $100000                                 October $90000

August $80000                              November $100000

September $110000                        December $94000

Historically, the cash collection of sales has been as follows:

65% of sales collected in the month of sale,

25% of sales collected in the month following the sale,

8% of sales collected in the second month following the sale, and

2% of sales are uncollectible.

Question A) What are the cash collections for September?

Question B) What is the ending balance of accounts receivable for September, assuming uncollectible balances are written off during the second month following the sale?