The management of Horton Company estimates that credit sales for August, September, October, and November will be

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The management of Horton Company estimates that credit sales for August, September, October, and November will be $270,000, $375,000, $420,000, and $240,000, respectively. Experience has shown that collections are made as follows:

In month of sales ...........................25%

In first month after sale .................60%

In second month after sales ...........10%

Determine the collections from customers in October and November. Show all computations.

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Cost Accounting Foundations and Evolutions

ISBN: 978-1111626822

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Authors: Michael R. Kinney, Cecily A. Raiborn

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Question Posted: May 23, 2013 04:41 AM

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The management of Horton Company estimates that credit sales for August, September, October, and November will be

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