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Coyote Loco, Inc, a distributor of salsa, has the following historical collection pattern for its...

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Accounting

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Coyote Loco, Inc, a distributor of salsa, has the following historical collection pattern for its credit sales. 60 percent collected in the month of sale. 20 percent collected in the first month after sale. 10 percent collected in the second month after sale. 8 percent collected in the third month after sale. 2 percent uncollectible. The sales on account have been budgeted for the last seven months as follows: June July August September October November December $130,000 . 200,000 300,000 400,000 450,000 500,000 480,000 Required: 1. Compute the estimated total cash collections during October from credit sales. 2. Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter. Build a spreadsheet: Const Show how the solution will change if the following information changes: sales in June and July were $100,000 and $130,000, respectively 3. ruct an Excel spreadsheet to solve both of the preceding requirements CMA, adapted)

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