Dos Tacos, Inc., a manufacturer of salsa, has the following historical collection pattern for its credit sales. 55 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. 8 percent collected in the third month after sale. 2 percent uncollectible. The sales on account have been budgeted for the last seven months as follows: June .................................................................................... $ 53,000 July ....................................................................................... 63,000 August ................................................................................... 72,000 September ............................................................................. 80,000 October ................................................................................. 89,000 November .............................................................................100,000 December .............................................................................. 82,000 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 credit sales. 3. Make sure to show the calculations by month during the 4th quarter (Oct-Dec) Budgeted Sales on Account: Collection Schedule: June $53,000 In month of sale 55% July $63,000 In 1st month after sale 20% August $72,000 In 2nd month after sale 15% September $80,000 In 3rd month after sale 8% October $89,000 Uncollectible 2% November $100,000 100% December $82,000

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