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Freemore Company has the following sales budget for the last six months of2020: July $ 206 000 October $ 188000 August 170 000 November 203
Freemore Company has the following sales budget for the last six months of2020:
July $ 206 000 October $ 188000
August 170 000 November 203 000
September 206 000. December 182 000
Sales are immediatelydue,however the cash collection ofsales,historically, has been asfollows:
65 % of sales collected in the month ofsale,
25 % of sales collected in the month following thesale,
8 % of sales collected in the second month following thesale,
2 % of sales are uncollectible.
Cash collections for October are________.
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