Question
Freemore Company has the following sales budget for the last six months of 2018: July $ 205 comma 000$205,000 October $ 180 comma 000$180,000 August
Freemore Company has the following sales budget for the last six months of 2018:
July | $ 205 comma 000$205,000 | October | $ 180 comma 000$180,000 | ||
August | 166 comma 000166,000 | November | 207 comma 000207,000 | ||
September | 207 comma 000207,000 | December | 182 comma 000182,000 |
Sales are immediately due, however the cash collection of sales, historically, has been as follows:
bullet
6060%
of sales collected in the month of sale,
bullet
3030%
of sales collected in the month following the sale,
bullet
99%
of sales collected in the second month following the sale, and
bullet
11%
of sales are uncollectible.
Cash collections for September are ________.
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