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Ewing Company is preparing a cash budget for September. The following information on accounts receivable collections is avatlable from past collection experience. Percent of current
Ewing Company is preparing a cash budget for September. The following information on accounts receivable collections is avatlable from past collection experience. Percent of current month's sales collected this month Percent of prior month's sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month 30x 57 7 The remaining 2 percent is not collected and is written off as bad debts. Credit sales to date are as follows. September-estimated August July $250,000 225, cee 210,000 25e,eee June Required: What are the estimated cash receipts from accounts receivable collections in September? Estimated cash receipts
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