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