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Compute estimated cash collections during october

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Reference no: EM131777074

Problem - Coyote Loco is a manufacturer of salsa. The follow historical collection pattern cor its credit sales are as follows:

70% collected in month of sale

15% collected in first month after sale

10% collected in second month after sale

4% collected in third month after sale

1% uncollectible.

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

June - $122,500

July - 150,000

August - 175,000

Sept - 200,000

Oct - 225,000

Nov - 250,000

Dec - 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.

Reference no: EM131777074

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