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  3. 60 percent collected in the month of sale. 20 p

60 percent collected in the month of sale. 20 percent collected in...

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Accounting

60 percent collected in the month of sale.
20 percent collected in the first month after sale.
15 percent collected in the second month after sale.
4 percent collected in the third month after sale.
1 percent uncollectible.
The sales on account have been budgeted for the last seven months as follows:
June $ 127,000
July 154,500
August 179,500
September 209,000
October 234,000
November 259,000
December 221,500
Required:
Compute the estimated total cash collections during October from credit sales.
Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter.

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