Question
Freemore Company has the following sales budget for the last six months of 2018: July $ 202 comma 000$202,000 October $ 181 comma 000$181,000 August
Freemore Company has the following sales budget for the last six months of 2018: July $ 202 comma 000$202,000 October $ 181 comma 000$181,000 August 170 comma 000170,000 November 210 comma 000210,000 September 200 comma 000200,000 December 186 comma 000186,000 Sales are immediately due, however the cash collection of sales, historically, has been as follows: bullet 6565% of sales collected in the month of sale, bullet 2525% of sales collected in the month following the sale, bullet 88% of sales collected in the second month following the sale, and bullet 22% of sales are uncollectible. Cash collections for September are ________.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started