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Fresplanade Co. had the following historical collection pattern for its credit sales: 70% collected in the month of sale 15% collected in the first month
Fresplanade Co. had the following historical collection pattern for its credit sales: 70% collected in the month of sale 15% collected in the first month after month of sale 9% collected in the second month after month of sale 5% collected in the third month after month of sale 1% uncollectible The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below: July August September October November December $ 80,000 $ 92,000 $ 104,000 $ 116,000 $ 128,000 $ 110,000 The estimated cash collection by Fresplanade Co. during September from credit sales in July, August, and September is: Multiple Choice $76,400. O $84,640 $93,800. O O $90.960
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