Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and
Question:
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows:
Based on past experience, it is estimated that 40% of a month’s sales are collected in the month of sale, 50% are collected in the month following the sale, and 9% are collected in the second month following the sale.
Required:
Calculate the estimated cash receipts for September, October, and November.
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Actual sales Sales forecast July August 294000 315000 Cash coll...View the full answer
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