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What the estimated total cash collections by fresplanade co

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Question - Fresplanade Co. had the following historical collection pattern for its credit sales:

75% collected in the month of sale

12% collected in the first month after month of sale

8% collected in the second month after month of sale

3% 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 $72,000

August $84,000

September $96,000

October $108,000

November $120,000

December $ 102,000

Required - What the estimated total cash collections by Fresplanade Co. during October from accounts receivable?

Reference no: EM133074050

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