Flagstaff Co. has actual sales for July and August and forecast sales for Septem

Question

Flagstaff Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 73,500 August 78,750 Forecasted: September 85,500 October 70,500 November 91,500 December 80,250 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 18% are collected in the second month following the sale. Required: Calculate the estimated cash receipts for September, October, and November. (Omit the "$" sign in your response.) Cash collections September $ October $ November $

Explanation / Answer

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