(Answered) Question - cash receipts budget flagstaff co has actual

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Question - Cash receipts budget 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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