Great Company manufactures metal cans; it has the following historical collection pattern for its credit sales....

 

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Great Company manufactures metal cans; it has the following historical collection pattern for its credit sales. 50 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. 13 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: April May June July August September October 236,000 248,000 320,000 340,000 360,000 400,000 340,000 Required: Compute the estimated total cash collections during September from credit sales. Great Company manufactures metal cans; it has the following historical collection pattern for its credit sales. 50 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. 13 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: April May June July August September October 236,000 248,000 320,000 340,000 360,000 400,000 340,000 Required: Compute the estimated total cash collections during September from credit sales.

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