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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

Esplanade Company's credit sales encompass the given historical pattern:

70%   Collected in the month of sale

15%    Collected in the first month after sale

10%    Collected in the second month after sale

4%     Collected in the third month after sale

1%     Uncollectible

These sales on open account (or credit sales) have been budgeted for the last six months in the year 2010:

July             \$60,000

August        \$70,000

September    \$80,000

October        \$90,000

November     \$100,000

December     \$85,000

1) Find out the estimated total cash collections from accounts receivable throughout October 2010.

2) find out the estimated total cash collections throughout the fourth quarter from credit sales of the fourth quarter.

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M915946

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