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3. The treasurer of Alpha Corp. needs to estimate cash collections from accounts receivable for September and October 201X. Forty-Five percent of the company's
3. The treasurer of Alpha Corp. needs to estimate cash collections from accounts receivable for September and October 201X. Forty-Five percent of the company's customers pay in cash and the rest are credit customers. The collection pattern for the credit customers is 25 percent in the month of sale and 75 percent in the following month. Because of Alpha's established client base, the company experiences zero uncollectible accounts. Estimated total sales for August- November 201X follow. Month August September October November Total Sales (in dollars) 78500 89000 99000 95000 Determine Alpha's total cash receipt from all sources for October.
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