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Coyote Loco, Incorporated, a distributor of salsa, has the following historical collection pattern for its credit sales. 7 0 percent collected in the month of

Coyote Loco, Incorporated, a distributor of salsa, has the following historical collection pattern for its credit sales.
70 percent collected in the month of sale.
15 percent collected in the first month after sale.
10 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 $ 130,500
July 158,000
August 183,000
September 216,000
October 241,000
November 266,000
December 228,500
Required:
Compute the estimated total cash collections during October from credit sales.
Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter.

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