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The treasurer of Soda Inc. needs to estimate cash collections from accounts receivable for October, November, and December 2019. Forty percent of the company's customer's
The treasurer of Soda Inc. needs to estimate cash collections from accounts receivable for October, November, and December 2019. Forty percent of the company's customer's pay in cash the rest are credit customers. The collection pattern for the credit customers is 20% in the month of the sale and 80% in the following month. They have zero uncollectible accounts. Estimated total sales are as follows: 1. September $70,000 October 80,000 November $90,000 December $100,000 a. What is Yoda's cash collections for October, November, and December? October cash collections: - November cash collections: - December cash collections: b. The accounts receivable balance at the end of December will be
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