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Fresplanade Co. had the following historical collection pattern for its credit sales: 75% collected in the month of sale 12% collected in the first month
Fresplanade Co. had the following historical collection pattern for its credit sales: 75% collected in the month of sale 12% collected in the first month after month of sale 8% collected in the second month after month of sale 3% collected in the third month after month of sale 2% 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 $ 72,000 $ 84,000 $ 96,000 $ 108,000 $ 120,000 $ 102,000 The estimated total cash collections by Fresplanade Co. during November from collection of accounts receivable is: Multiple Choice $113,160. $101,400. $143,640. $125,640. $102,420
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