Exercise 13-40 (Algo) Estimate Cash Collections (LO 13-4) All sales at Alaska Company are on credit....

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Exercise 13-40 (Algo) Estimate Cash Collections (LO 13-4) All sales at Alaska Company are on credit. The company is preparing a cash budget for November. The following information on accounts receivable collections is available from customer payment history: Percent of current month's sales collected this month Percent of prior month's sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month 30% 56 7 2 The remaining 5 percent is not collected and is written off as bad debts. Sales to date are as follows: November (estimated) October September August $ 300,000 580,000 270,000 650,000 Required: What are the estimated cash receipts from accounts receivable collections in November? Estimated cash receipts Exercise 13-40 (Algo) Estimate Cash Collections (LO 13-4) All sales at Alaska Company are on credit. The company is preparing a cash budget for November. The following information on accounts receivable collections is available from customer payment history: Percent of current month's sales collected this month Percent of prior month's sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month 30% 56 7 2 The remaining 5 percent is not collected and is written off as bad debts. Sales to date are as follows: November (estimated) October September August $ 300,000 580,000 270,000 650,000 Required: What are the estimated cash receipts from accounts receivable collections in November? Estimated cash receipts