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Fresplanade Co. had the following historical collection pattern for its credit sales:
75% collected in the month of sale
10% collected in the first month after month of sale
8% collected in the second month after month of sale
5% 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 $85,000
August $97,000
September $109,000
October $121,000
November $133,000
December $115,000
Problem 1: The estimated total cash collections by Fresplanade Co. during November from collection of accounts receivable is
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