Scottsdale Company has actual sales for July and August and forecast sales for September, October, November,...

 

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Scottsdale Company has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July August Forecast: September October November December $ 98,200 104,500 113,200 94,400 September October November 122,000 106,700 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 6% are collected in the second month following the sale. Required: Calculate the estimated cash receipts for September, October, and November. Cash Collections Scottsdale Company has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July August Forecast: September October November December $ 98,200 104,500 113,200 94,400 September October November 122,000 106,700 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 6% are collected in the second month following the sale. Required: Calculate the estimated cash receipts for September, October, and November. Cash Collections

Answer rating: 100% (QA)

To calculate the estimated cash receipts for September October and November we need to apply the giv... View the full answer