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Cohlmia Company makes all its sales on account. Cohlmias accounts receivable payment experience is as follows: Percent paid in the month of sale 20% Percent

Cohlmia Company makes all its sales on account. Cohlmias accounts receivable payment experience is as follows:

Percent paid in the month of sale

20%

Percent paid in the month after the sale

75%

Percent paid in the second month after the sale

2%

Cohlmia provided information on sales as follows:

September

$100,000

October

$120,000

November

$200,000

December

$250,000

1. What are the expected cash receipts for November?

2. What are the expected cash receipts for December?

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