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On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November, and December. All of Molloy's sales are made on

On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November, and December. All of Molloy's sales are made on account. The following information was used in preparing estimated cash collections:

August sales (actual) $ 32,000
September sales (actual) $ 42,000
October sales (estimated) $ 12,000
November sales (estimated) $ 62,000
December sales (estimated) $ 52,000

Approximately 60% of all sales are collected in the month of the sale, 30% is collected in the following month, and 10% is collected in the month thereafter.

1. Budgeted collections from customers in October total:

$86,000.

$27,800.

$19,800.

$23,000.

2.Budgeted collections from customers in November total:

$116,000.

$51,000.

$45,000.

$40,800.

3.Budgeted collections from customers in December total:

$51,000.

$41,000.

$49,800.

$126,000.

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