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 $123,000 150,500 175,500 201,000 226,000 251000 213,500 June August September October November December Required 1. Compute the estimated total cash collections during October from credit sales Total cash collections 2. Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter Total cash collections