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Ch 6 Lab (Show your work to receive partial credits) Fact pattern: Esplanade Company has the following historical pattern for its credit sales: 1. 75%
Ch 6 Lab (Show your work to receive partial credits) Fact pattern: Esplanade Company has the following historical pattern for its credit sales: 1. 75% collected in month of sale 2. 20% collected in the first month after sale 3.4% collected in the second month after sale 4.1% uncollectible The sales on open account have been budgeted for the last 6 months of the year as shown below: July $60,000 August 70,000 September 80,000 October November December 90,000 100,000 85,000 Esplanade's estimated total cash collections during September from accounts receivable would be
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