Flagstaff co has actual sales for july and august and, Ask an Expert

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Flagstaff Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 73,500 August 78,750 Forecasted: September 85,500 October 70,500 November 91,500 December 80,250 Based on past experience, it is estimated that 30% of a month's sales are collected in the month of sale, 50% are collected in the month following the sale, and 18% are collected in the second month following the sale. Required: Calculate the estimated cash receipts for September, October, and November.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796677

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