1 Normal 1 No Spac.. Heading Heading 2 Heading 3 Heading 4 Paragraph Styles QUESTION 26 1. Salich Manufacturing Corporation has provided the following sales budget information: July $ 59,000 August $ 69,000 September $ 74,000 2 Cash sales are normally 30% of total sales, credit sales are expected to be collected in their entirety in the month following the month of sale. The amount of cash expected to be received from customers in September is: $69.000 $74.000 $70,500 $54,400 $22,200 QUESTION 25 1. Eresplanade Co. had the following historical collection pattern for its credit sales: 70% collected in the month of sale 15% collected in the first month after month of sale 996 collected in the second month after month of sale 5% collected in the third month after month of sale 1% uncollectible The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below: July $ 89,000 August $ 101,000 September $ 113,000 October $ 125,000 November $ 137,000 December $ 119,000 The estimated cash collection by Fresplanade Co. during August from July and August credit sales is: $92,920 $62,300 $102,260 $99,870. $84,050