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Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $70,000 in June, $60,000 in July, and $87,000 in August? Cash collected $ . Dream Big Pillow Co., pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $62,000 $51,000 $36,000 $39,000 $45,000 Given the above purchases, how much cash will be paid in quarter 2018? Cash paid $ Feedback Check My Work For 'month of purchase' multiply the purchase amount times the percentage for the month of purchase. For month after the purchase, use the percentage for 'month after the purchase' and the prior month's purchase amount. For the second month follow the purchase, use the second prior month and percentage for the month in question. The total represents the case paid. Fitbands' estimated sales are: Oct. $131,984 Nov. 195,732 Dec. 249,261 Jan 124,292 Feb. 124,286 Mar. 124,350 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January $ February March