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Cloudy Company had the following historical collection pattern for its credit sales: 75% collected in the month of sale 12% collected in the first month

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Cloudy Company had the following historical collection pattern for its credit sales: 75% collected in the month of sale 12% collected in the first month after month of sale 8% collected in the second month after month of sale 3% collected in the third month after month of sale 2% uncollectible The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below: The estimated cash collection by Cloudy Company during September from credit sales in July, August, and September is: $57,750. $92,590. $84,105. $88,060. $75,990

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