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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 $ 88,000 $ 100,000 $ 112,000 $ 124,000 $ 136,000 $ 118,000 The estimated total cash collections by Fresplanade Co. during November from collection of accounts receivable is: Multiple Choice $128,880. $117,000. $171,200. $144,800. $119,760
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