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#2,16 16 Ewing Company is preparing a cash budget for September. The following information on accounts receivable collections is available from past collection experience. 5
#2,16
16 Ewing Company is preparing a cash budget for September. The following information on accounts receivable collections is available from past collection experience. 5 points Percent of current month's sales collected this month Percent of prior months sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month 2015 57 15 Soped The remaining 5 percent is not collected and is written off as bad debts. Credit sales to date are as follows. Merce September-estimated August July June $190,000 171.000 150,000 179,000 Required: What are the estimated cash receipts from accounts receivable collections in September? Estimated cash receipts Step by Step Solution
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