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Author Question: Freemore Company has the following sales budget for the last six months of 2018: ... (Read 85 times)

jake

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Freemore Company has the following sales budget for the last six months of 2018:

July$205,000October$187,000
August  168,000November   200,000
September 205,000December  182,000

Sales are immediately due, however the cash collection of sales, historically, has been as follows:
 55% of sales collected in the month of sale,
 35% of sales collected in the month following the sale,
 7% of sales collected in the second month following the sale, and
 3% of sales are uncollectible.

Cash collections for October are ________.
◦ $102,850
◦ $186,360
◦ $199,450
◦ $181,390


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Marked as best answer by jake on Mar 6, 2021

zoeyesther

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jake

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Reply 2 on: Mar 6, 2021
Gracias!


frankwu0507

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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