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Coyote Loco is a manufacturer of salsa. The follow historical collection pattern cor its credit sales are as follows :
70% colleceted in month of sale15% collected in first month after sale10% collected in second month after sale4% collected in third month after sale1% uncollectible.
The sales on account have been budgeted for the last seven months as :
June - $122,500july - 150,000august - 175,000sept - 200,000oct - 225,000nov - 250,000dec - 212,500
1. Compute estimated cash collections during october from credit sales.
2. compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter
3. Make a spreadsheet solving the 2 previous requirements.
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