Question
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July August $
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July August $ 98,500 105,000 Forecast: September 114,200 October 93,200 November December 121,500 106,400 Based on past experience, it is estimated that 25% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 5% are collected in the second month following the sale. Required: Calculate the estimated cash receipts for September, October, and November. Cash collections September October November
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