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Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after

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Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected m the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow Month of sale Credit Sales July S 30,000,00 August $ 35,000,00 September $ 40,000,00 October $ 45,000,00 November $ 50,000,00 December $ 42, 500.00 Required: Calculate the estimated total cash collections during the year's fourth quarter. Amount collected Month of sale Credit Sales Oct Nov Dec Total July August September October November December

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