Exercise 14-13 (Algo) Cash receipts budget LO 14-4, 14-7

Brooklyn Studios sales are all made on account. The firms collection experience has been that 30% of a months sales are collected in the month the sale is made, 50% are collected in the month following the sale, and 18% are collected in the second month following the sale. The sales forecast for the months of September through December is as follows:

September	$ 237,000
October	276,000
November	320,000
December	355,000

Required:

Calculate the cash collections that would be included in the cash budgets for November and December.