A company has provided you the following information about the collection pattern of its credit sales. Based on the past experience, 70% is collected in month of sale 20% is collected in the first month after sale 6% is collected in the second month after sale 4% is typically uncollectible You are working on the expected cash collections for the last calendar quarter (Oct - Dec). Actual credit sales for July through September, and expected credit sales for October - December of the year follow. July: $400,000 August: $500,000 September: $550,000 October: $700,000 November: $540,000 December: $450,000 A. Calculate the estimated total cash collections during October? B. Calculate the estimated accounts receivable balance at the end of December?