Coyote Loco, Inc., a distributor of salsa, has the following historical collection pattern for its credit sales. 60 percent collected in the month of sale 20 percent collected in the first month after sale. 15 percent collected in the second month after sale. 4 percent collected in the third month after sale. 1 percent uncollectible. The sales on account have been budgeted for the last seven months as follows: June July August September October November December $127,000 154,500 179,500 209,000 234,000 259,000 221,500 Required: 1. Compute the estimated total cash collections during October from credit sales. 2. Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter. 3 PAD Week 8 Chapter door TO SOURCE SUPPORTED search Help Save & Exit Check m The sales on account have been budgeted for the last seven months as follows: June July August September October November December $127,000 154,500 179,500 209,000 234,000 259,000 221,500 Required: 1. Compute the estimated total cash collections during October from credit sales. 2. Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter. 1. 2. Total cash collections Total cash collections A D de TESOURCE SUPPORTED