iPad 10:04 PM 37% . ezto mheducation.com Question 5 (of 15) Save & Exit Submit T

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iPad 10:04 PM 37% . ezto mheducation.com Question 5 (of 15) Save & Exit Submit Time remaining: 1:55:37 5 Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July August $ 98,000 105,500 Forecast September October November December 113,800 93,800 121,800 107,100 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 47% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required Calculate the estimated cash receipts for September, October, and November Cash collections September October

Explanation / Answer

Cash collections September 87329 =(98000*6%)+(105500*47%)+(113800*28%) October 86080 =(105500*6%)+(113800*47%)+(93800*28%) November 85018 =(113800*6%)+(93800*47%)+(121800*28%)

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