What the estimated total cash collections for october

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Espinosa Company has the following historical pattern on its credit sales.

70 percent collected in month of sales

15 percent collected in the first month after sale

10 percent collected in the second month after sale

4 percent collected in the third month after sales

1 percent uncollectible

The sales on open account have been budgeted for the last 6 months of 2018 as shown below.

July P 60,000

August 70,000

September 80,000

October 90,000

November 100,000

December 85,000

Problem 1: The estimated total cash collections for October 2018 from accounts receivable would be

A. P84,400

B. P 21,400

C. P89,100

D. P63,000

Reference no: EM132745870

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