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Company has the following budgeted sales: July $100,000; August $80,000; September $1 10,000; October $85,000. Historically, the cash collection of sales has been as follows:
Company has the following budgeted sales: July $100,000; August $80,000; September $1 10,000; October $85,000. Historically, the cash collection of sales has been as follows: 55% of sales collected in the month of sale; 35% of sales collected in the month following the sale; 10% of sales collected in the second month following the sale. What are expected cash collections for September and October?
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